My business partner and I are about to launch our first online dropshipping fashion brand, with a second scheduled to launch early next year. We're both also full time self-employed web designers.
My question is – what's the best way for us to both own each of these businesses and manage the spend/profit? I've read that having a single LTD company with three 'trading name' businesses can become complicated and risky if one of them were to fail. The businesses aren't really capital intensive to start, there's little financial risk from our end, but I need some help getting my head around the best way to organise this efficiently.
Apologies for my huge lack of knowledge if there's something obvious that needs answering first here.