Sole traders, partnership, company or trust?  It’s not a decision to be taken lightly.
Choosing whether your business venture should be set up as a trust, company, partnership, or as a sole traders is an important decision.
There are many factors that need to be taken into consideration before a decision is made about your business structuring. Even if your business entity has been trading for some time, most businesses will go through a period where their objectives change and consideration should also be given as to whether you business structure should also evolve.
When deciding on the most appropriate structure for you, much consideration should be given to the amount of financial risk associated with the particular business activity and what level of protection is needed based on the relationships and the number of parties involved.
A list of advantages and disadvantages can be made for each of the four main structures, but the best decision for you needs to be made in collaboration with you – based on your unique circumstances, objectives, the nature of your business activities and the people involved.
To discuss this further, please call your nearest office; complete our online contact form or email reception@sinnotts.com.au
Camperdown
19 Pike Street
03 5557 3337
Colac
58 Hesse Street
03 5231 4183
Warrnambool
192 Koroit Street
03 5561 5622
Port Fairy
38 Bank Street
03 5568 1402
You can book an appointment online anytime
At Sinnotts Accountants, we believe in providing quality, pro-active advice to our diverse client base. We care about our clients and all our staff have a desire to build a practice that reflects our core values of expertise, teamwork, commitment and confidentiality. Our primary objective is to contribute to the success and prosperity of our clients. We are committed to giving personal attention in a cost effective manner.
