Do I need to register as a company to receive money or look pro?

[krupt]

Hi guys, I'm stuck on something

I'm starting a university publication in my uni - looking to start the first one in 2 months time.

I've got most things ready. I'm going to try it out like once every month and see how it goes.

As well as selling it for like literally £1, I'm also thinking of getting some money off advertising.

Like from local fast food joints near to my university.

Now do I have to register my publication as a company or something...and then I can go to say a Fast Food joint and say, $200 for a advertising slot in my magazine?

Coz then when they pay me, who do they make the cheque too? And also so it is legitimate...know what I mean?

This process of accepting money is what I'm stuck on...I have not registered this magazine of mine as a company or anything yet

I was just planning on printing it out...getting some interviews with students etc...and giving it out. But I got space to put ads in it too so I thought of this

[krupt]

Oh and I am UK by the way

[BusinessAdviser]

I always operate under a limited liability entity of some sort, both for liability and public perception reasons, among others. However, I am not familiar with British law.

[krupt]

I'm not to clear about that JMenq...What is a limited liability? Is it expensive to register?

[BusinessAdviser]

A limited liability entity is any business entity which limits your personal losses to what you have invested in the entity.

If, for example, you operate your business as a limited liability company, if your LLC incurs 15,000 pounds in debt, but has no way to pay this debt, the person owed the 15,000 could not come after your personal assets, rather only the business assets.

However, if you operated your business as some entity without limited liability, such as a sole proprietorship, the the person owed the 15,000 could come after and collect your personal assets (such as car or bank account) to satisfy the balance of the debt after the business assets had been collected and liquidated.

Examples of a limited liability entity include corporatons, LLCs, LLPs, etc.

I always use a limited liability entity for just this reason.

Additionally, operating as a business gives customers a greater sense of security, viewing you as more professional.

With regard to business entity selection and any othe legal issue, you should speak with an attorney for legal advice, as all I have provided you is my personal opinion.