You've got a great idea or a strong set of skills and are ready to try your hand as a business owner. Turning an idea into a business is no simple task, but the risks you take to become a business owner can be personally and financially rewarding.
An important decision you'll need to make is whether you want to go through the legal process of creating a business.
During the process of setting up your business, you can choose one of many different legal structures for your business. Some give you the option to have little to no legal or financial separation between your personal and business finances. Others create a legal organisation (generally called an entity) that is, in most cases, legally and financially separate from you, the business owner.
There are a range of legal business structures available to you depending on where you live. Research the various options on your government’s official website.