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SMALL BUSINESS QUIZ

Quiz: Should your business be a Sole Trader or Company?

Are you starting a business and trying to determine the best business structure for you? Take this quiz to identify whether a sole trader, company, partnership, or trust best fits your business and lifestyle goals.

Please note that this quiz is for informational purposes only and does not constitute legal or financial advice.

Choosing the right business structure is crucial for your business's long-term success and growth. It determines the legal and financial framework within which your operations will function. The right structure can provide benefits such as personal liability protection, tax advantages, and reduced financial admin. Different business structures, such as sole traders, partnerships, companies, or trusts, offer varying levels of flexibility, legal protection, and tax implications. By selecting the most suitable structure, you can ensure compliance with legal requirements, optimize your tax obligations, protect personal assets, and position your business for future growth opportunities.

We recommend taking our short quiz to identify the best business structure for your specific circumstances. This quiz will assess critical factors such as your business goals, level of control desired, liability concerns, and tax considerations. By answering a few targeted questions, you can gain valuable insights into the optimal business structure that aligns with your needs and objectives. Don't leave this important decision to chance; take our quick quiz to make an informed choice and set a strong foundation for your business success.

More small business quizzes

Quiz: How much time can you save with Thriday?

Most business owners spend over 6 hours a week managing their financial affairs, from reconciling expenses to chasing up unpaid invoices. Take this quiz to learn how much time you can save using Thriday’s AI-based platform.

Quiz: Should I start a business?

This thought-provoking quiz presents a series of questions that delve into your readiness for starting a business. By honestly answering these questions, you can clearly understand the entrepreneurial path you should follow.

Quiz: Does your business need a bookkeeper or accountant?

With the introduction of artificial intelligence into accounting, you may no longer need to use a bookkeeper or accountant to do your books. Take this quiz to see if automated accounting software like Thriday can handle your financial admin.

Thriday acknowledges the Traditional Owners of Country throughout Australia and recognises their connection to land, water and community. We pay our respects to them and their cultures, and to Elders past, present and emerging.

*Bank account and Visa Debit card issued by Regional Australia Bank Ltd ABN 21 087 650 360 AFSL & Australian Credit Licence 241167

Team Thrive Pty Ltd ABN 15 637 676 496 (Thriday) is an authorised representative (No.1297601) of Regional Australia Bank ABN 21 087 650 360  AFSL 241167. Thriday is not an authorised deposit taking institution as defined under the Banking Act 1959 or a registered tax agent, a registered Business Activity Statement agent or a registered tax (financial) adviser as defined under the Tax Agent Services Act 2009. Any advice provided on the Thriday platform (including this website and the iOS and Android applications) is only of a general nature and does not take into account your personal needs, objectives and financial circumstances. You should consider whether it is appropriate for your situation. Copyright © Team Thrive Pty Ltd ABN 15 637 676 496. All rights reserved.