Types of business: structure

An entrepreneur might start as a sole trader, but after a while, unless unlucky, lazy or very antisocial, the business will outgrow one person and needs to take on one of a number of legal shapes and sizes. Which you choose will depend on the most efficient way of structuring it for tax efficiency, future growth, and smooth management. That in turn will depend on the nature of the business – an antique shop will have a different shape to a training company or a restaurant, for instance………..