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Business Structures

Does this apply to me?

A critical piece of your business

 

 

You are not alone if you haven’t thought of this part of owning a business. It is super common and never too late to restructure.

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Before you begin

In this section we are going to cover the base knowledge you need to know about a business structure.

It is recommended to consider what your business structure will be.

What is a Business Structure?

Common options are:

Sole Trader – just your name, trading on your own

Partnership – potentially a spouse or business partner/s together

Company – legal entity separate from its owners

Trust – entity that holds property or income for the benefit of others

When should I consider?

As mentioned above, starting as a Sole Trader is not wrong, but seeking professional advice based on the businesses size, future growth, risk and liability are just a few reasons to think about the structure.

You can come back to this step at a later date if your business grows quickly or your personal circumstances change.

How do I decide?

It always pays to get expert advice.

We have partnered with a Tax Agent/Accountant to work with you and can giude and assist you to making the right decision, who is amazing to work with.

Click here to find them on our partners page

Want to learn more about business?

We want to help you in your business journey. We have made quick online courses to assist you with great advice, direction. Each module is designed to specifically guide you and step you through process options so you can DIY your business set-up.