Business Structure Advice Essay Example | Topics and Well Written Essays - 500 words - 3

Business Structure Advice - Essay Example This is where you choose to take on partners. Partners contribute capital to start the business. The business may be a limited partnership that is different from a partnership because some partners (limited partners) have limited liability for the company’s debts while others have unlimited liability (general partners). Advantages of a Partnership will be: My recommendation to you as a new business owner is to start a business as a sole proprietorship and refrain from taking on partners. The sole proprietorship business structure will give you the opportunity start at a lower cost and offer you the flexibility of controlling the business. Once the business is stable, you can safely move to other business structures based on the company’s requirements. Sole-proprietorship-advantages-and-disadvantages. (2014, September 9). Retrieved from Tasmanian Government: https://www.business.tas.gov.au/starting-a-business/starting-a-business-from-scratch/choosing-a-business-structure-intro/sole-proprietorship-advantages-and-disadvantages., Department of State Growth