Comments on: Choosing a Business Structure in Australia http://www.ipitch.com.au/public/choosing-a-business-structure-in-australia/ Follow Australia's Startups Wed, 08 Feb 2012 21:52:04 +0000 http://wordpress.org/?v=2.7.1 hourly 1 By: Adam Wozniak http://www.ipitch.com.au/public/choosing-a-business-structure-in-australia/#comment-1264 Adam Wozniak Tue, 20 Jul 2010 14:06:29 +0000 http://www.ipitch.com.au/public/?p=499#comment-1264 Hi Rachel, Good article, and thanks for the link to my partnerships article at http://www.wecancreate.com/blog There are additional articles on there that deal with sole trading and trusts, in case your visitors are interested in that too. Keep up the good work. Hi Rachel,

Good article, and thanks for the link to my partnerships article at http://www.wecancreate.com/blog

There are additional articles on there that deal with sole trading and trusts, in case your visitors are interested in that too.

Keep up the good work.

]]> By: The Start Up Sage http://www.ipitch.com.au/public/choosing-a-business-structure-in-australia/#comment-307 The Start Up Sage Sat, 06 Feb 2010 00:14:07 +0000 http://www.ipitch.com.au/public/?p=499#comment-307 We would always encourage people to set up as a Pty Ltd whenever possible. The exception is for people setting up a hobby business or the like. A Pty Ltd does not cost that much more to run per yearm (ASIC fees of $212 and accountancy costs) and the benefits are clear-cut. In addition to the points already raised: 1. The liability issue. This is a huge reason to set up a Pty Ltd. Although note that Directors of Pty Ltd companies may not have personal liability however they do have the responsibilities associated with being a Director. 2. Some firms won't deal with sole traders. So it is not just a perception issue. Finally, the comment "Companies must report their activities, maintain proper records and comply with laws" may imply that sole traders may not have to do this. For the record, sole traders and partnerships have must also report, record keep and legally comply. We would always encourage people to set up as a Pty Ltd whenever possible. The exception is for people setting up a hobby business or the like. A Pty Ltd does not cost that much more to run per yearm (ASIC fees of $212 and accountancy costs) and the benefits are clear-cut. In addition to the points already raised:

1. The liability issue. This is a huge reason to set up a Pty Ltd. Although note that Directors of Pty Ltd companies may not have personal liability however they do have the responsibilities associated with being a Director.

2. Some firms won’t deal with sole traders. So it is not just a perception issue.

Finally, the comment “Companies must report their activities, maintain proper records and comply with laws” may imply that sole traders may not have to do this. For the record, sole traders and partnerships have must also report, record keep and legally comply.

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