Testing Richard Willshire slides page

In the early stages of a business, one of your most important decisions is its structure.

A business can take many forms; sole trade, partnership or company, and each has its advantages. The key is knowing which structure suits your individual venture.

When thinking about the best structure of your business, it’s important to look ahead. Consider how you want the business to grow and, equally, your exit strategy at the end — whether that’s selling the business or passing it over to family or employees.

To help with the decision-making process, here are a few questions to ask yourself:

• Who needs to be involved?
• Which legal protections do you need?
• Where will the business be based?
• Do you intend to extract profits regularly from the business?
• How do you intend to exit the business and pass it over or down?

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