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business structures

Business Lifecycle Series

Great ideas can lead to great innovations and thriving businesses.  Our team of business advisors have developed a series of articles on the Business Lifecycle covering everything from an idea to succession or sale of your business. 

Over the course of the next months we will be addressing some of the key milestones in business. 

Business Structures: What is right for you?

No business structure is perfect.  However, it is important that you have the correct structure in place at the correct time. There are four common types of business structures which include, Sole Trader, Partnership, Company and Trust. 

When considering the choice of structure, it is wise to consider commercial and risk related issues, tax related matters and succession/asset protection. As tax rules evolve over time, and as a business moves through its life cycle, the optimal choice of structure may change as well. It is therefore important that you review your structures regularly to ensure they are still fit for purpose.  

Start-ups - where do I start?

Every successful business begins with a simple thought, an inventive idea or identifying a niche in the market which grows into a viable and commercial operation. For those looking to start their own business, it can seem a daunting task with a seemingly endless web of information available. However, seeking appropriate professional advice and assistance early on will simplify the process and allow you to focus on turning your idea into a reality.