Company Law & Business Structure
The team at Kelly Flavell Law are only too happy to provide the advice and guidance as to your best business structure as:
- A sole trader
- A partnership
- A company
- A trust
Any of these entities can have individual owners, company owners, and trustee owners or any variety of styles of owners.
Which structure is used depends on individual preferences with consideration for tax implications and creditor protection.
A company provides the greatest level of creditor protection while the sole trader and the partnership are more exposed.
Partnership can be structured so that the various partners can work different hours and be paid different salaries and participate in the profits and losses in a manner that reflects the capital investment in the business.
Sole traders are in the least fortunate position as there is no one to split income with. Having said that the sole trader may be in the most fortunate position of all for they have no one else that they have to answer to.
Which ever may be your preferred structure the Team at Kelly Flavell Law are happy to work with you and your accountants to create the most suitable business structure for you.