{"id":19891,"date":"2023-01-19T14:10:18","date_gmt":"2023-01-19T14:10:18","guid":{"rendered":"https:\/\/www.moorethompson.co.uk\/blogs\/?p=19891"},"modified":"2023-01-19T14:10:20","modified_gmt":"2023-01-19T14:10:20","slug":"what-is-the-reason-for-changing-a-business-structure","status":"publish","type":"post","link":"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/","title":{"rendered":"What is the reason for changing a business structure?"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6-1024x576.png\" alt=\"\" class=\"wp-image-19892\" srcset=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6-1024x576.png 1024w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6-300x169.png 300w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6-768x432.png 768w, https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6.png 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>There are many reasons for changing how a business operates which may include changing relationships between business and customers.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>As online trading grows exponentially, businesses are also pursuing new economic activities in virtual markets.<\/p>\n\n\n\n<p>Reasons for change could include:<\/p>\n\n\n\n<p><strong>Innovative technology<\/strong><\/p>\n\n\n\n<p>The identification of new cloud-based technology can lead to more efficient and economical methods, allowing for staff cost reductions and the ability to outsource some tasks.<\/p>\n\n\n\n<p><strong>New business opportunities<\/strong><\/p>\n\n\n\n<p>As the marketplace grows and evolves, products may become obsolete. In that case, businesses need to identify what is required to increase their portfolio, become more competitive and sell new products.<\/p>\n\n\n\n<p><strong>Deficient performance<\/strong><\/p>\n\n\n\n<p>Changes are required when business goals and objectives are not being met. It may require re-organisation of working practices.<\/p>\n\n\n\n<p>You may also wish to change the structure of your business operations to:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Become a limited company:<\/strong> A sole trader, for example, is open to personal risk and can face unlimited liability for any business debts. A limited company, as the name implies, will limit any liability.<\/li><li><strong>Go for growth:<\/strong> To secure capital for expansion, it may be necessary to offer a potential investor a piece of the business in return, which may require you to create shares in the business.<\/li><li><strong>Share the burden: <\/strong>It can be a lonely time if things are not going well, so taking on a partner can share potential risks and provide cover for sickness or holiday absence.<\/li><li><strong>Introduce share schemes<\/strong>: You may wish to reward staff and a limited company allows for an employee share ownership plan. They only work within a structure that allows you to create and distribute shares, ie a limited company.<\/li><\/ul>\n\n\n\n<p>If you have found this article useful, it is part of a series of articles offering business advice.&nbsp;<\/p>\n\n\n\n<p><strong>Need help with growth and changing your business model? Contact us today.<\/strong><strong><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>There are many reasons for changing how a business operates which may include changing relationships between business and customers.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26,33],"tags":[],"class_list":["post-19891","post","type-post","status-publish","format-standard","hentry","category-blog","category-business-blog"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is the reason for changing a business structure? - Moore Thompson<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"What is the reason for changing a business structure?\" \/>\n<meta property=\"og:description\" content=\"There are many reasons for changing how a business operates which may include changing relationships between business and customers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\" \/>\n<meta property=\"og:site_name\" content=\"Moore Thompson\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-19T14:10:18+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-19T14:10:20+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"720\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"What is the reason for changing a business structure?\" \/>\n<meta name=\"twitter:description\" content=\"There are many reasons for changing how a business operates which may include changing relationships between business and customers.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6.png\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/#\/schema\/person\/0d9cc808e7eb5eb75ce773e69c3d97fb\"},\"headline\":\"What is the reason for changing a business structure?\",\"datePublished\":\"2023-01-19T14:10:18+00:00\",\"dateModified\":\"2023-01-19T14:10:20+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\"},\"wordCount\":313,\"image\":{\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.moorethompson.co.uk\/blogs\/wp-content\/uploads\/2023\/01\/M.T.-Blog-Graphic-02.12.2022-6-1024x576.png\",\"articleSection\":[\"Blog\",\"Business Blog\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\",\"url\":\"https:\/\/www.moorethompson.co.uk\/blogs\/what-is-the-reason-for-changing-a-business-structure\/\",\"name\":\"What is the reason for changing a business structure? 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