Business Structuring and Setups
A firm foundation is key to any business structure. Much like building a house, if the house is not built on a solid foundation, no matter how much money you spend on fixtures and fittings over time the structure will be compromised – leading to significant issues, risks, and costs.
Whether you’re a first-time entrepreneur or seasoned business owner, selecting the right structure for your business can be challenging. There are multiple options, and all with different pros and cons.
Far too many people just skip this important decision altogether, merging their personal and business interests and exposing themselves to significant risk in the process. If you are serious about going into business, you need to ensure you have the right advice about what structure is best suited to meet your needs and protect your assets.
When choosing the right structure for your business, we will consider many factors. Our advice will be tailored to your specific circumstances and objectives. That includes:
- Your personal liability exposure from your business products or services
- Asset protection
- Business risk, including dealings with customers, creditors, suppliers, past, present and future employees and banks
- Whether you have (or plan to have) partners or investors in the business
- The administrative costs of setting up and maintaining your business structure
- The tax effectiveness of the structure
- Estate planning and family succession of assets
We’ll talk to you about how the right business structure can mitigate your risks, and set the best foundation for success.