Which business structure are you?

Business hand touching organization chartWhether or not you are just starting a new business or have been in business for a while, it is important to understand the business structure under which your business operates. In general there are four structures: company, sole trader, partnership and trusts. Each structure has its own set of “rules” which greatly affect how you should operate your business. To better understand the differences between each structure, I have created the following table which highlights the most important aspects of these structures.

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