Dear Matthew Sibaya,
Thank you for reaching out to Financial Wizards Ltd for assistance with your business plan and
guidance on setting up your new venture. I have reviewed the extract from your business plan and
will address your questions and provide the necessary advice.
Regarding the legal structure of your business, it is essential to consider the benefits and
disadvantages of different options. The most common legal structures for small businesses in South
Africa are sole proprietorship, partnership, and private company (Pty) Ltd. Each option has its own
implications for taxation and liability.
Thank you for reaching out to Financial Wizards Ltd for assistance with your business plan and
guidance on setting up your new venture. I have reviewed the extract from your business plan and
will address your questions and provide the necessary advice.
Regarding the legal structure of your business, it is essential to consider the benefits and
disadvantages of different options. The most common legal structures for small businesses in South
Africa are sole proprietorship, partnership, and private company (Pty) Ltd. Each option has its own
implications for taxation and liability.
