A Limited Company is a business structure that is legally separate from its owners. It can enter into contracts, own assets, and is responsible for its own debts. The owners (called shareholders) have limited liability, meaning they only risk losing what they invested. There are two main types: Private Limited Company (Ltd) and Public Limited Company (PLC). Limited companies must be registered with Companies House and follow certain legal requirements. This structure offers more protection and credibility than being a sole trader.
