Client Services
What Business Structure Should I Use?
Choosing the right structure depends on your particular circumstances, the type of business and any special considerations, such as the risks involved in the business. The most common business structures, starting from the simplest form are:
• A sole trader operating their own business under a business name.
• A partnership between two or more individuals.
• A small company owned by a few shareholders who operate the business.
• A medium-sized company with a more complicated structure.
• A larger joint venture or a joint venture company.
• A large private company with multiple subsidiaries.
• A listed public company.
Your choice of structure needs to be considered carefully because it will have an impact on many aspects of your business, including the costs of running the business, the tax you pay and risks you are exposed to. For these reasons, it is important that you obtain good legal advice when you are thinking about setting up a business so that you use the right structure for your particular business.