When you have just been offered that freelance contract abroad, and your client needs you to provide a company name, then that is where Hubconsult can help you, and much more quickly then setting up your own.
Some of you have told us of your personal experience - and some surveys, such as OECD surveys confirm the same. It can take time, either for the company documents, or for the opening of a company bank account.
Even if your client has not specified for you to contract in the name of a company, it is still likely to be advantageous to you:
- Your clients may favour working with suppliers who are incorporated to deliver projects
- You can limit your personal liability with Limited Liability and use of Professional Indemnity cover
- Better deductibility of expenses through a company, saving you Corporate Tax
- Capitalise on your strong personal name and team up with others under the umbrella of a strong corporate identity
- Bid on projects, sub-contract other consultants and build a business more quickly using a company
So the answer for many consultants or small businesses is definitely yes - having a company delivers so many advantages that it makes sense to have one.
But did you know that for so many of those people, that's as far as it gets - setting up a company. Many fail simply because they hit the brick wall of the time and cost of company administration or failure to obtain a bank account. That's even before they have a credible business plan in place.
But the next question is which solution works best for you and gives you best Value for Money?
Fortunately for you, Hubconsult aims to help you with all of these things! We run a company for you so you can focus on your projects. And it's packed full of useful features such as Xero online accounting software.