- Do you act as a sole trader and now your business is growing?
- Do you worry that your personal assets may be at risk from claim against your business?
- Do you want to leave a legacy for your partner and/or children and ensure that your business survives you?
If you answered yes to any of the above questions then you may need to consider the way in which your business currently operates, aka your business structure.
There are numerous ways that you can structure your business operations. These can include:
- A sole trader
- A family trust
- A company
- A partnership
There is not always a right and wrong to a structure, it all depends on you. If you are looking to restructure your business and move it from one type of entity to another, then we can work with your accountant and other professionals to set up the structure that is right for you.
Other reasons for restructuring may include third party investment or amalgamating two or more businesses. Caution must always be taken when re-structuring your business because if you get it wrong, there can be significant tax implications and you may not end up with the protection that you so desperately desire.
If you are looking to evolve your business to the next level, then call our business lawyers and we can assist you in getting that structure just right for you.