Guide to selecting the right business structure for your small business

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The structure you choose will affect your taxes, personal liability, and ability to raise funds. Here’s an overview of the common structures available:

Sole Proprietorship

A sole proprietorship is the simplest form of business, owned and run by a single individual.

Advantages: Simple setup and low-cost; full control; personal tax rates apply (no separate business tax).
Disadvantages: Unlimited liability; personal assets are at risk; harder to raise capital.
Best for: Small businesses or side hustles, such as freelancers or small retailers.

3 Sep English South Africa Business · Marketing

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