Are you setting up a new business?
Want to learn more about business operations?
Then click on this video!
Overview of this video
Business owners should engage in the right professionals to give tailored advice with regards to your personal circumstances with which your business operates in.
Choosing the right business structure can significantly affect your business’ legal and operational risk, asset protection, tax obligations, legal costs and customers. Some examples of business structures are: Companies Partnerships, Trusts and Sole traders.
Hiring employees: It is important to seek legal advice and ensure the employee contract is written and detailed.
Legally binding contracts.
When entering a contract it is important to know the duration, liabilities, indemnities, other rights and obligations under the contract for goods and services when buying or selling.
Mistakes may occur in a business due to wrong business structure, not having things in writing or agreements in place and not obtaining professional legal and financial advice. It is always beneficial to talk to a professional such as your lawyer, accountant, insurance brokers, financial planner and others in regards to your business.