Starting a business? You’ll need to choose a business structure…

If you are starting a business, it’s important to choose the right business structure to suit your needs. As your business grows, you may decide to switch structures as well.

To help decide which is most suitable for you, consider the following:

• required licenses
• amount of tax you pay
• being an employee compared to being an owner
• personal liability
• your control over the business
• costs and paperwork associated with running the business

All information was sourced from Business.gov.au, which has a summary of each structure’s qualities.

Here at the Bottom Line, we provide advice tailored to your situation to best suit your business – reach out to us today!