Sole Trader or Limited Company? The Pros and Cons

Sole Trader or Limited Company? The Pros and Cons

Plenty of people reading this will have thought about leaving their nine-to-five job, and starting their own business. It’s common to view this as a means of escaping the drudgery that so often makes up the work day. And then there is the freedom, and ability to be your own boss, and to do whatever you like. However, after moving beyond this initial stage of optimistic fantasy – it quickly becomes apparent that being your own boss is an awful lot of work. It is also hard to decide whether to start a company, or become a sole trader.

The following discussion outlines some of the primary pros and cons of being a sole trader, or creating the common “Pty Ltd” company.

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How to Select the Best Business Structure for Your Company

How to Select the Best Business Structure for Your Company

Are you thinking of setting up your own business? If so, have you decided on the business structure which will be ideal for your new firm? The business structure of a company should be the first thing to be decided and confirmed, before you start putting your business plan into action. Your tax liabilities and payments, management of the business operations, legal identity in the market and consequent success depends on the structure you choose for your new entrepreneurial venture or company in Australia.

If you have decided to take the Australian industry by storm, then decide on the best structure for your business.

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