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Which business structure should I choose for a new business?

I currently operate as a sole trader, but I want to open a second business. The business would need its own office building, would hopefully have a small number of employees late on (probably under 10), and would not require much in the way of assets or equipment (definitely under $10000). Not sure what would work best in terms of security/liability/taxation etc.

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I am not sure about the laws of Australia, but if you were opening a business in the USA I would create an LLC and file for sub-chapter S election for federal taxation. I think that is the best setup for small to mid sized businesses.

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Hi Chirstian 

It depends on the business you are in and as Brian mentioned that LLC is the best option to open such type of venture. Still you could try with your local authority before taking an action on it. 

Hope this will help.

Regards 

Debadip

Mentor-Micromentor

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It looks like you asked this in 2015. If you are still wondering, I am in Australia and might be able to assist. Best wishes Scott

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