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Often referred to as Sole Proprietorship, the business is owned and operated by an individual. Sole Proprietorship is the most common form of business ownership. It is a simple, low cost structure where the individual has sole rights to profits and no accountability to others, but can have ATO and liability implications as well as taking sole responsibility for losses and risks.

See other posts on options for business start-ups: Sole Trade, Partnership, Company or Trusts.

For information and advice on business structures and business startups, contact Maynard Accounting today on 3208 3888.

Remember, when you use Maynard Accounting to setup your business you receive our unique 13 point Business Start-up Checklist.

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