It’s no surprise that several business owners do not seek legal advice on the appropriate legal structure that is best for their business before incorporation & comply with the requirements of such legal structure after registration.
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2.
A business is defined as an organization or enterprise engaged in commercial, industrial or professional activities. Business can be for profit or not for profit organizations that operates to fulfill a charitable mission or further a social cause.

6.
• Can apply for loan and take debt.

Seeking advice on your business legal structure before and after incorporation or registration makes you compliant with appropriate regulatory bodies and helps you minimize risk.

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3.
Business is categorized as follow:
1. Sole proprietorship/ Partnership

2. Limited Liability Company

3. Public Limited company

4. Unlimited company

5. Incorporated Trustees(NGO, Church, School etc)

4.
Having a legal structure helps you know the following:

• Adhere to statutory and legal requirements after incorporation or registration;

• Tax health; the necessary taxes your are expected to pay as a business owner;

• It helps you to adhere to registration requirements;

5.
• Regulatory bodies that are in charge of your business;

• Helps to know the necessary permits and license you need to obtain to legally operate;

• Liabilities in law;

• Whether your business can trade it’s shares publicly;

• Data protection compliance;