The structure you choose for your business has long-term implications for tax, liability, governance, and growth.
Common structures in Australia include sole traders, partnerships, companies, and trusts. Each option offers different advantages and obligations.
For example, a sole trader structure is simple to set up but may expose you to higher personal liability. A company offers stronger separation between personal and business assets but involves greater compliance requirements. Trusts can offer flexibility and asset protection but require careful management.
Choosing the right structure depends on your goals, level of risk, industry, and long-term plans. Sound legal advice helps ensure that your business is built on a stable and suitable foundation from day one.