Having the right business structure is an essential consideration at every stage in the life of a business. As your business evolves, it is important to determine whether your current business structure is still appropriate or whether another structure would be more appropriate to help you achieve your objectives. Numerous business structures are available, including:
- Sole proprietorships
- Partnerships
- Business corporations
- Joint ventures
- Co-operatives
Each structure has its own advantages and disadvantages in setup costs, maintenance costs, tax implications, capital requirements, control, decision-making, liability, and protection. The structure that was appropriate for your business when it began may no longer be appropriate as it grows or expands into new areas or markets. We have extensive experience advising business owners/managers on the appropriate structure for their business at this particular point in its lifecycle. Our Business Law Group will work closely with you and your other professional advisors to help you choose the business structure that best suits your needs.