Questions to Ask When Deciding Legal Structure of Business

Questionnaire for deciding which business structure you want to use

These are a list of some basic and simple questions you can ask yourself when you want to decide what business structure you want to use for a business.

  1. How many people are going to own and operate the business?
  2. What taxation system you want to adapt? Are you overly concerned with the tax consequences that your business will face?
  3. Do you want to consider having employees become owners of the company?
  4. How much cost can you handle in the legal set of business? Can you handle the additional expense that comes with the complicated business structure?
  5. How much paperwork and documentation are you prepared to deal with?
  6. How many people are going to be making the decisions in the business? Do you want complete control of your company?
  7. Do you intend to go public in the future and raise public stock?
  8. Do you want to protect your personal assets from legal claims and business that’s?
  9. Is family succession a concern?