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Thread: Running multiple businesses?

  1. #1
    Regular Member bigdave1701's Avatar
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    Default Running multiple businesses?

    Just wondered if anyone could answer this for me...

    Emma (my other half) is about to register herself and her business and become full time self employed producing wedding stationery. I have a little sideline print reselling, which involves very little input from me (an email here, a bank transfer there). Is there any reason why this sideline couldn't be run through Emma's books either as a second business owned and run by her or as part of the same company as her wedding stationery? If it's run as a separate business, I'm assuming she'd have to present accounts for both businesses? If it runs as one business, is it hard to separate the two at a later date, should one or both become too big to manage as one?

    Are their any benefits/pitfalls to either of the above?

  2. #2
    spoons
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    Why not look at setting up a holding company, with both businesses under that umbrella.

    The holding company would own each business 100% shares.... Its 'assets'

    The accountant can do the finances for the holding company, to include both businesses. Which are kept seperate in the event of growth or failure.

    The holding company would not share any financial responsibility with its 'assets', so would be protected against bankruptsy.

    So if one business failed. It wouldnt affect the holding company (other than losses in the balance sheet), and wouldnt affect the other businesses within the group.
    Last edited by spoons; 11th September 2012 at 18:02.

  3. #3
    Regular Member bigdave1701's Avatar
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    Default

    Thanks, I'll look into that.

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