Engaging a lawyer early in the process of establishing your own business can assist you in making informed decisions which provide you with the ongoing flexibility and opportunities for growth that a business needs.

A lawyer with experience in dealing with businesses can:

• provide comparisons between different business structures, and the advantages or disadvantages that each option would bring to your particular commercial operations
• educate you on how to structure your business for asset protection purposes
• ensure that you choose a structure which provides you with your desired level of control over management of the business
• advise you about your obligations as a business owner, and potential employer, including any industry specific regulations that apply to your business
• recommend a business structure that will minimise your taxation obligations, particularly where you a operating a family business and wish to minimise taxation for the whole family group
• assist you with the application and registration processes for new businesses, including any relevant licensing requirements
• take into consideration your personal estate and goals for wealth accumulation and recommend a structure that will provide you with the most efficient pathway forward

The earlier you engage a lawyer when establishing a new business, the smoother and more efficiently your planning and decision making will be. Mistakes and delays can be avoided by having a trusted and skilled advisor who can provide prompt solutions to each of your particular concerns.