Sky Accountants Ballarat & Bookkeepers Ballarat: Company Business Structure

 
Dec. 3, 2019 - PRLog -- If your main goal is to scale your business, a company structure may be your ideal choice because it provides flexibility to expand and bring in new partners to the business. It also offers a capped taxation rate and a reduced level of personal liability. At Sky Accountants Ballarat, our goal is to empower you to become a better, more finance-focused and well-rounded entrepreneur. Contact us at info@skyacc.com.au or 1300 328 855 (tel:1300328855)

Setting up a company is an effective way to grow your wealth but it has its risks as well. Here are some pros of structuring your business as a company.

A company structure allows for easy additions of new investors, co-owners and shareholders. It is also easy to issue additional shares to new shareholders. A company business structure is flexible especially when transferring ownership or selling the company. It is also subject to the flat company tax rate; its tax is capped at 27.5% so wealth generation and sustained growth is not hampered by tax, allowing the business to be more tax effective.

Companies also have written and well-defined shareholder agreements that clearly outline governance rules, dispute processes and exit protocols. It offers a strong support structure so you can make decisions with confidence, knowing that all shareholders are on the same page.

A company structure is an independent legal entity. The company is run by directors and owned by shareholders so it limits personal liability because all liability is assumed by the company entity. In case of a legal action or financial difficulty, shareholders are liable only for the debts that the company has incurred to the total amount that's unpaid on their shares. The company shoulders the rest of the liability, making it a low-risk investment.

A company may also continue indefinitely until it's dissolved. Companies also benefit from several government schemes, incentives, concessions and grants designed to help them succeed.

Sky Accountants Ballarat & Bookkeepers Ballarat

You can click here (https://www.skyaccountants.com.au/contact/) to speak to a business, accounting and bookkeeping firm. We will give you a call to know more about your needs. We will explain to you how we can improve your business.
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