Choosing a Business Structure #shorts #accounting #business

The first step of starting a business is to choose the right business structure. 🏢

This may seem like a minor detail, but it’s actually quite important.
The type of business structure you choose will determine things like your ✔ tax obligations, ✔ how much liability you have, and ✔ what sort of steps you need to establish the business entity.

In Australia, you can either be a sole trader or set up your business as a company, partnership, or trust.

Each one has its own 👍 advantages and 👎 drawbacks, so you’ll need to speak to an accountant to help you choose the right structure for your business.

#daviemach #accounting #businessstructure #smallbusiness