Choose the Right Form of Business

When starting a new business, It is important to choose the right business structure.

The decision is often between sole proprietorship/limited partnership and private limited company

Things to consider when choosing the right structure?

-Cost of formation

-Who is responsible for paying tax? The organization or the owners?

-Potential Liability

-Sole proprietorship/Limited partnership = Cheaper and easier to set up but less flexible in the long term

-Private limited company = more complicated and more expensive to start but more flexible in the long term

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