ТОP-10 advantages Setting up a Small partnership in Lithuania

Setting up of MB (Small partnership) in Lithuania has a number of advantages that can be attractive for the entrepreneurs. Here are TOP 10 of them:

1. Simple set-up: setting up of MB is a relatively simple and quick process. It does not require large initial capital contributions or complicated administrative procedures, that allows entrepreneurs to get started quickly.
2. Limitation of liability: members of MB do not assume personal liability for the debts and liabilities of MB. This means that the risk of personal ownership is limited to the scope of MB activities.
3. Lower initial investment: The establishment of MB does not require a large mandatory share capital contribution. This allows entrepreneurs to start up with a lower investment.
4. Income and profit sharing: MB allows the entrepreneur to manage the company’s finances flexibly. He can decide how to share the profits or receive income from the company. This gives greater financial freedom.
5. Quick change of business model: MB is a flexible form of business that allows easy change in business model or structure. This is particularly important for start-ups when it is not yet clear how the business may develop in the future.
6. Access to the EU market: as Lithuania is a member of the EU, MB established in Lithuania can benefit from all the privileges and opportunities of the EU common market. This includes free movement of goods and services between EU Member States.
7. Availability of financing: there are different financing options available to MB, such as bank loans, investments, EU support or business incubators. This helps to develop the business and implement new projects.
8. Legal protection: setting up of MB offers some legal protection to the entrepreneur compared to sole proprietorship. This means that the assets of the company and those of the entrepreneur are separated, so that personal assets can be protected from business risks and liabilities.
9. Ease of management and organisational flexibility: MB is managed and decisions are taken on the basis of the agreement of all the members. Each member has equal voting rights, which are determined by the share of MB contribution. This legal form ensures flexibility in the organisation and the ability to adapt to business changes.
10. Low administrative costs: the administration of MB is simpler and less bureaucratic than some other forms of business organisation. There is no need to file complex annual financial statements or to deal with complicated accounting procedures, which helps to reduce administrative costs.

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