Business question!!! (1 Viewer)

[flashy04]

hey folks, just doing an assignment for business on legal structures. the question is discuss the legal structure options available to small business owners in NSW. just wondering what those structures are just for small businesses. is it just sole trader and partnership? or is it sole trader partnership and private company? tell me what you think
thanks

 

[supre]

in private sector, i think its is sole trader, partnership, and company for small businesses.
they basically mean that if a business goes in loss than sole trader and partnership business r responsible to pay for the debts whereas if it is a company directors cannot be held for personally liable for any debts incurred by a company.

(i m not 100% with this information so pls cross check with other sources)

hope that helped

 

[flashy04]

ahhk, thanks

 

[harrisony]

in private sector, i think its is sole trader, partnership, and company for small businesses.
they basically mean that if a business goes in loss than sole trader and partnership business r responsible to pay for the debts whereas if it is a company directors cannot be held for personally liable for any debts incurred by a company.

(i m not 100% with this information so pls cross check with other sources)

hope that helped

+1 surprised I remember my commerce work from last year

 

[t00l]

yee i did legal structures last week. should just be sole traders and partnerships correct me if im wrong

 

[jonowang]

i just learnt legal structures and im pretty sure that its sole trader and partnerships