What Andy said and, with regard to the structure options, in this situation I’d recommend having as few registrations and trading structures as possible, noting that MSD funding does not require you to have a new business registration to apply. You only need to be starting a new business, or seeking support for an existing business. These can be satisfied under your existing registration. So option 2 above, but do approach MSD. Other funding lines could also be explored but, as per Andy, you could defer draw down until you’ve got positive market validation. All the best.