2 businesses 1 company

F

FewEuro

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Hi,

This question may have been asked before, apologies inn advance if that is the case.
I am currently contracting and need to set up my own ltd company to invoice for my work. This is no problem. However, I will soon be starting up a second self employed job and wondered what would be the best thing to do. Will I need to set up a second company?
Would this cut down on overheads paperwork etc?

Would it be a matter of just creating a seperate business name and trade under it but still use the company I have already created?
 
Thanks for the reply,

So I can set up a company, work away as an IT contractor, and then when I start my second unrelated business, just create a business name and trade under it?

Or will I at that stage need to create two seperate new business names?
 
Yes you can. If the limited company is set up for IT contracting you can trade as this name (once it is the same; otherwise register a seperate business name) and then register the other unrelated business by registering a trade name. You don't need to change the objectives of the limited company once you specify when registering the 2nd business name what type of business it is. Another option would be to have a generic limited company name and register both business names, but it is difficult to get a generic limited company name as the CRO have a minefield of rules regarding names.
 
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