Business Structure
One of the first and most important decisions you will make about your business is the company's structure. Because of the long-term implications, it is essential that you consult with an accountant and attorney* to help you select the form of ownership that is right for you. In making a choice, take the following into account:
- Your vision regarding the size and nature of your business
- The level of control you wish to have
- The type of structure you want to manage
- The business' vulnerability to lawsuits
- Tax implications of each type of ownership structure
- Expected profit (or loss) of the business
- Whether or not you need to reinvest earnings
- Your need to access to cash out of the business
Structure Overview – Learn what the five basic business structures are.
Basic Structures – Here is where you can find in-depth information on each structure.
Special Structures – Check out these additional types of businesses that are also recognized in other countries.
*The information presented here is for general informational purposes only and does not replace the need for professional legal and financial advice.
References:
• Small Business Administration
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