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What business structure should I choose when starting a small business?

Date added:
Thursday, 22 April 2010
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7053

Answer

There are three basic structures to choose from:

  1. A sole proprietorship is a business that you are operating by yourself;
  2. A partnership is a business wherein you are working with others and sharing profits and losses.
  3. If you get more formal you can create a corporation.
The type of structure is totally up to your own choosing.

 

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