Businesses can be structured in a number of different ways. The range of business structures includes the sole trader model, companies, incorporated associations and cooperatives, trusts, joint ventures and partnerships.

Each of these structures offer the owners and managers of the business differing degrees of control, personal liability, asset protection, access to capital, distribution of profit and tax effectiveness, and the regulatory requirements, establishment costs and recurrent costs also differ for each of them.

The company is the most common form of business structure in Australia, closely followed by the sole trader model. Although it is possible to change from one business structure to another, this process can be costly and so careful consideration of the most appropriate form of structure at the outset, with a view to growth and change, is critical.

See Business structures.