Our goal is maximising flexibility of ownership structure considering the unique needs of the business as well as personal requirement of the owner(s). Individual requirements are a prime consideration here – no two situations are the same; particularly if multiple owners are involved.
On the basis of goals and the situation of the business owner, the options to minimise taxation should be considered. You need to choose a structure reflecting your tax, financial and administrative requirements. For example, if you are looking forward to raising capital and taking a business to the next level, sole trader structure may not be the best fit for you. An accountant or business advisor may be able to help you choose the best option to fit your business.