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Watch a video summary on Different Types of Business Entities

There are 4 main types of business structures to choose from. They are:

Refer to this table(PDF 146KB) for more details on each type of business structure.

Use the e-Adviser for Business Structure on GoBusiness to get recommendations on which business structure is most suitable for you.

The type of business structure you choose depends on your business needs. Consider the following factors to determine the best structure for you:

  • How much capital are you prepared to invest?
  • How many owners will there be in the business?
  • What liabilities and responsibilities are you prepared to assume?
  • What risks are you prepared to take?
  • What are the advantages and disadvantages of different business entities?
  • How easy is it to close the business entity?
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