When establishing or purchasing a business, consider:
• what if it goes well;
• what if it doesn’t;
• how long do you want to operate for;
• will you want to sell; and
• do you want to dabble in or establish other businesses?
Establishing the holding structure for your business is critical, get it right and you can sell a business through your company without the buyer incurring GST or Stamp Duty, which could leave you with a higher sale price.
It allows you the flexibility to streamline your income and offset your debts.
Its easier to separate your respective businesses and gives you flexibility.
If you plan on operating a successful business, give it the best possible start, get your structure right the first time, it won’t be as easy once you kick off trading.