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Step 4: Choose a business structure
Your small business can be a sole proprietorship, a partnership, a limited liability company or a social enterprise. The business entity you choose will impact many factors from your business name, to your liability, to how you file your taxes.

You may choose an initial business structure, and then re-evaluate and change your structure as your business grows and needs change.

Depending on the complexity of your business, it may be worth investing in a legal advice to ensure you are making the right structure choice for your business.