Business structure planning involves determining the legal and organizational framework that best suits a company’s needs and goals. This includes choosing between various structures such as sole proprietorship, partnership, corporation, or limited liability company (LLC), each with distinct implications for ownership, liability, taxation, and management. The planning process typically considers factors like the size of the business, its industry, growth projections, and regulatory requirements. Establishing the right structure is crucial as it affects operations, governance, legal responsibilities, and financial outcomes.
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