Business Structures

STRATEGY I SOLUTIONS I INTEGRITY


Types of structures

There are a number of structures that you can choose from when starting or expanding your business. The four main types of business structures commonly used by small businesses are:

  • Sole trader: an individual trading on their own
  • Partnership: an association of people or entities running a business together, but not as a company
  • Trust: an entity that holds property or income for the benefit of others
  • Company: a legal entity separate from its shareholders.

When deciding upon a structure for your business, you need to choose the one that best suits your business needs and remember that there are advantages and disadvantages for each. Choosing your business structure is an important decision that can determine the licenses you will need to operate, so you need to investigate each option carefully.
Biz 1 Legal can provide you with professional advice that can help you understand your own particular circumstances and provide a solid legal basis for your decision making.

 

Types of businesses

 As well as deciding on the structure of your business, you will also need to consider the type of business you want to start or when expanding and growing your existing business.

There a number of different types of businesses, and examples may include

  • Franchise
  • Online business
  • Family business
  • Home based business
  • Independent contractor
  • Importer
  • Exporter.

Biz 1 Legal will discuss and give professional advice on each of the above business types.

Contact us for a complimentary appointment.