Learn about different business structures
Sole trader
Being a sole trader puts you in the driving seat and is a way to start a business, work for yourself, or work as a contractor for someone else. You’ll need to think about whether sole trading is right for you. If it is, set up good business processes to help you in the long run.
Company
A company can be a great option to structure your business, but make sure you know what it involves and how to decide if this is the right model for you. This includes identifying where your business value lies, setting yourself up for successful governance, and knowing what kind of support you can get.
Partnership
Partnerships are easy to start, but there are a few things to consider before you decide to go ahead. Find out if a partnership is the right choice for you, what support you can get, and what alternative there are to closing your business.
Exploring other business structures
Learn what other, less common business structures there are in New Zealand, and what legal obligations they have. If you’re thinking about using one of these other structures, make sure you get professional advice.