Sole Trader? Partnership? Shareholders? Company? What’s that all about?

The structure of your business might be the last thing you want to think about. You just want to continue what you're doing, or get started (if that's where you're at). It all seems costly and complicated.

Sole Trader? Partnership? Shareholders? Company? What’s that all about?

The structure of your business might be the last thing you want to think about. You just want to continue what you're doing, or get started (if that's where you're at). It all seems costly and complicated.

The wrong structure may limit funding opportunities and income generation. It may mean burdens of reporting etc that your organisation is not resourced to be able to complete.

In the latest ART Generator, we take a look at different structures to consider and we've got arts manager and chartered secretary, Yee Yang 'Square' Lee to help unravel the mystery.

Business structures matter. WHY? As Square says "having the right structure in place for your business will affect your startup and operating costs, legal obligations and liabilities, administrative and compliance requirements, your ability to raise finance or seek funding, protection of your assets, tax status and the continuity of your business, among other things."

Seems like a long list - that's why it is important to get it right.

By working through both articles and exercises, as well as the other resources on Generator this month, you can re-examine how you operate or feel smug that you've got it right.

I've been making [and selling] for a while now. I can see things growing. How do I make sure I'm set up for the future?

FEATURE:

Setting up for the future

EXERCISES:

Business health check

Planning for growth

DISCUSSION:

Help with business structure, ask Yee Yang 'Square' Lee

RESOURCES:

Setting up as a sole trader

Forming a company

Choosing a business structure

Forming a partnership

Planning for success