As an entrepreneur trying to get your business off the ground,
there are many factors to think about and the legal
"stuff" may easily be forgotten. In this article, we
touch on the top 5 considerations entrepreneurs need to think about
when starting out.
1. Structuring your business
One of the first decisions you will have to make when starting
up a business is the legal form or structure your business will
take. Typically this decision means deciding whether you are going
to:
- operate as a sole proprietorship;
or
- incorporate.
A sole proprietorship is created by you, the natural person,
carrying on business. Under the law, you and your business are
considered as one. All is needed to start your business is to
obtain a business license.
