• There are generally 5 types of business structures you can choose from if you’re starting a new business for profit:
    • Sole proprietorship
    • General Partnership
    • Limited Partnership (LP)
    • Limited Liability Company (LLC)
    • Limited Liability Partnership (LLP)
  • To decide which business structure is most suitable for you, you will need to consider the following factors: –
    • How much capital you are prepared to invest?
    • How many owners there will be in the business?
    • What liabilities and responsibilities you are prepared to assume?
    • What risks you are prepared to take?
    • Whether a company of that structure will be easy to close?

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