Family businesses are the backbone of Australia’s economy, contributing over 70% of the nation’s GDP and employing a significant portion of the workforce. However, their long-term success can be fragile, with only a fraction operated by the third...
There are 4 main types of business structures for doing business in Australia, each with their own advantages and disadvantages. In simple terms, a business can be operated by a sole trader, through partnership, by a trust or a company. The business structure is an...
Legal definition of a partnership A partnership is a relationship between people or entities carrying on a business, with a common view of making a profit. There are three different types of partnerships; Normal partnership; Limited partnership; Incorporated limited...
