Business structure and planning

When establishing or operating a business, consideration needs to be given to both the business structure and operational structure. The structure of the business is pivotal to the way in which it operates. The business structure you choose for your practice is an important decision that will have significant implications for how you manage your practice. It is important to recognise that your practice is a business and that your professional activities and business structure will combine to help develop your practice into a valuable asset. Another key component of establishing a sound business is the development and implementation of a business plan.