A business can be legally structured in several ways. Choosing the best legal structure for your business is one of the first and most important decisions you need to make.
We recommend seeking professional advice from your accountant, solicitor or financial adviser before deciding on your business structure, as you will need to consider many legal, financial and tax issues.
Each business structure has different requirements. You may need an Australian Business Number, business name registration, trademark registration and other requirements.
This guide gives you general information about the advantages and disadvantages of the 4 most common business structures - sole trader, partnership, company and trust.