What company type is right for me?
The different company types - explained
Limited by Shares Company
The most common form of company used for running a for-profit business.
- Shareholders’ liability for debt is limited to the nominal value of their shares
- Separate legal entity, meaning the company is responsible for its own liabilities
- Ideal for small to large for-profit enterprises
Limited Liability Partnership (LLP)
Partners have limited personal liability for the firm's debts. Used by professionals - e.g. accountants and solicitors.
- Partners are not personally responsible for business debts beyond their investment
- Operates similarly to a traditional partnership in management and profit sharing
Limited by Guarantee Company
Used where the company intends to reinvest profit back into the business (i.e. a non-profit business)
- No shareholders, only guarantors with limited liability for the company's debts
- Suitable for clubs, community projects, and charities
- Profits are not distributed as dividends but are reinvested back into the company
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