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.
- How many people are going to own and operate the business?
- What taxation system you want to adapt? Are you overly concerned with the tax consequences that your business will face?
- Do you want to consider having employees become owners of the company?
- 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?
- How much paperwork and documentation are you prepared to deal with?
- How many people are going to be making the decisions in the business? Do you want complete control of your company?
- Do you intend to go public in the future and raise public stock?
- Do you want to protect your personal assets from legal claims and business that’s?
- Is family succession a concern?