Legal structure Flashcards
1
Q
what factors influence choice of legal structure
A
Size of business, ownership, and finance
2
Q
what do other factors include
A
Legal liability, tax implications, and cost and complexity of formation
3
Q
what would be a small enterprises legal structure
A
sole trade or partnership
4
Q
what is the benefit to opening as a private company
A
it would allow the owner to maintain a high degree of control and it would also offer protection of limited liability.
5
Q
what classifies a business as small, medium or large
A
the number of employees, market share, ownership and who makes their decisions.
