.What to do
When starting a business or purchasing a pre-existing business there exists a wide variety of business structures in which to operate a business. Seeking advice from a lawyer about the right business structure for your business will give you an edge over your competitors. It is crucial that the most advantageous business structure is selected and implemented to ensure that the business goals are met and that the enterprise is running at optimum profitability. In determining the most appropriate business structure, we will usually weigh the elements of each type of business structure against the objectives, purpose and unique character of the enterprise. It is very important that prior to establishing a business or purchasing an already existing business, you obtain reliable and comprehensive legal and tax advice.
Some of the forms of business structures are:
- Sole Trader;
- Partnership;
- Company; and
- Trusts.
You should refer to the Articles above for more detailed information about each of the abovementioned business structures.