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Choosing
a business structure
Now
that you have a business idea
and you know your market,
the next step is to decide on your business identity.
There
are four main legal forms your business can take:
1. Sole
Trader - An individual running a business alone
2. Partnership
- An association of two or more people running one business
with a view of making a profit
3. Limited
Partnership - A corporate body whereby members can limit
their personal liability and avoid putting their own personal
assets at risk.
4. Limited
Company - A business that exists separately from any
of the people who own it.
Suggested
next stage: Choosing a business
name
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