In the last few tutorials in this series, we’ve taken a look at two of the four main business structures in Australia – the Sole Trader business structure, and the Partnership business structure. Now it’s time to look at another business structure – the Trust. The main benefit of operating a Trust is that it gives you flexibility in how income is distributed. Continue reading
In my last tutorial in this series, we looked at one of the first steps in starting a business – ensuring that you have the right licences. Now it’s time for the next major step – choosing a “business structure”.
A “business structure” refers to the way your business is structured legally. And – just like licencing – it’s ABSOLUTELY crucial that you choose a business structure and actually register it.
It’s amazing how many people either don’t get this right, or skip this step completely. Don’t be one of them. Getting this wrong could destroy your business, and it could destroy YOU. Continue reading