Section intro * Gaining clients * Administration and accounting * Dealing with Governments * Employing staff.

Sole Trader * A Partnership * The Pty Ltd Company

Dear Visitor: So then, you are contemplating the prospect of "being your own boss". No doubt you will have heard others say that being your own boss frees you from the bondage of having to submit your efforts and time to someone else, allowing you to chart your own destiny to wealth and prosperity. If this is your only reason for contemplating establishing your own enterprise you may be well advised to reconsider.

Operating your own business does not free you from the bondage mentioned in our opening remarks, rather, it simply places a new master over you that not only demands your time and effort but also much in the way of your personal resources as well. This master is your new business. Having said this I would then say that a well run and successful business can provide much in the way of rewards, security, and personal satisfaction for the individual who has embarked upon this pathway. It is business that provides individuals with the opportunity to gain financial rewards for their labour, along with the facilities and support for that labour to be applied in a productive manner. In many cases individuals are well advised to remain as an employee rather than undertake the sacrifices responsibilities and risks that are associated with business ventures. I / What Type of Business Structure Should You establish? There are many systems that exist today but for the most part we will base our considerations on three: the sole trader, the partnership, and the proprietry limited company. There are three basic business structures and your choice as to which will apply to you will depend to a large degree on how you wish to operate, and where you want to take your business in the future. The three forms of strucure are as follows: 1/ Sole trader. 2/ Partnerships, 3/ Public and Private Companies.

If now you still wish to proceed, we have put together a few pages of advice that we hope will help you avoid he pitfalls that await the unwary. We will also share with you a few principles that will help you set up, operate, and finance your business. We wish you all the best in your venture

Setting up * Gaining clients * Administration and accounting * Dealing with Governments * Employing staff.