RE: Engineers As Consultants Pt. 8: Business Structures

DAB — Mon, 14 Jul 2014 18:43:34 GMT

You bring up an excellent point.

Liability is not well understood by engineers. I know a lot of larger companies will only deal with incorporated consultants as a matter of business.

As Mike points out, it gets even more interesting as you go into the international market. Every country has its little quirks about legal responsibility and taxation.

So if you have not hired a lawyer and tax consultant for your business, I highly recommend that you do so before ever signing a contract.

Otherwise, you might find yourself in a lot of trouble without even knowing what you did wrong.

So welcome to the world of owning your own business. There is a good reason why 90% of new businesses fail.

DAB

A little bit more than 2p worth.

RE: Engineers As Consultants Pt. 8: Business Structures

michaelkellett — Mon, 14 Jul 2014 16:45:50 GMT

I can understand that as an American you only know a bit about businesses in America but surely you could at least acknowledge in your 'blog' that there are some other places in the world. This is a fairly international forum hosted by a UK company - I think it's likely that most of us are not in the USA.

It might be more interesting and generally useful if you posted some stuff about things you actually do or have done yourself.

As DAB would (almost) say - just my 2p worth.