I would like to form a company but I need some advice on what my choices are.
Comparison of Business Entities
|Sole Proprietor||No protection from creditors. You can be sued personally for the business debts. You are the business||Suitable for small business starting out. You need to work on a cash basis paying creditors and not allowing customers to run up accounts.||Suggested Turnover
|Partnerships||Each partner is equally liable for the full amount of all the debs in a partnership.||Business partnerships are the inevitable consequence of two or people starting a business. One should plan to form a company as soon as possible.||Suggested Turnover
|Close Corporation||All close corporations will eventually be converted to companies. No new close corporation can be formed.|
|Companies||All companies are governed by the same Companies Act 2008.||See our Companies Page for further details.||Suggested Turnover
|Business Trusts||This is not a popular business platform. It is a highly specialized option for business men with specific goals.|