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When the time comes to select the right structure for your business, there are three main configurations to consider, each of which has advantages and disadvantages.
The issues that you will have to consider are:
You should think about these issues and decide their importance to you, as they will determine which business structure you choose. The three business structures are:
While we would recommend reading the individual articles on each document for a more complete description of the advantages and disadvantages, in brief:
Choose a partnership if:
Choose a limited company if:
Choose a limited liability partnership if: