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How to choose a business structure
When you decide on a structure for your business, choose the one that best suits your business needs. Consider each option carefully, as there are key factors and rules to consider for each structure.
Your business structure can determine:
- the licenses you require
- how much tax you pay
- whether you're considered an employee, or the owner of the business
- your potential personal liability
- how much control you have over the business
- ongoing costs and volume of paper work for your business
You can change your business structure throughout the life of your business. As your business grows and expands, you may decide to move to a different type of business structure.
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