Checklist on Using the Correct Structure



The choice of a business structure will have many implications.

Some include:

  • Personal responsibility for all the debts and liabilities of the business.

  • The taxation of profits of the business.

  • The cost of set-up and establishing the business at the beginning.

  • The cost of complying with any requirements of government regulations.

  • The ability to do business at home and overseas.

  • Whether you will be subcontracting out some of the work you will receive.

  • How you structure the business when you have other partners and investors.

  • The ability for the business to be closed and for investors in the business to recover the investment.

  • The need to distinguish the business products and services from its competitors.


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