Business structuring is the process of designing the legal and operational framework for a business entity. It involves determining the appropriate legal structure, such as sole proprietorship, partnership, corporation, or LLC, based on the business goals, size, and ownership structure.
Additionally, business structuring involves creating the organizational and governance structure of the business, including the roles and responsibilities of owners, management, and employees, as well as outlining the business’s mission, vision, and values. As a business set up a consultancy, it is important to assist clients in choosing the best business structure for their needs and goals, and to ensure that their business is structured to maximize profitability, minimize risk, and comply with relevant laws and regulations.