Business Structure Review
Is staying as a sole trader still working for you?
For some businesses, staying as a sole trader continues to make perfect sense. For others, growth, profits, risk or future plans can start to change the picture.
This quick assessment helps highlight where your current setup is working well, where it may start to create limitations and whether it could be worth exploring other options.
Answer each point below with either “Yes” or “Not sure / No”. Once you’re done, we’ll highlight what looks covered and what may need more attention.
Keeping things simple
For many sole traders, simplicity and flexibility are still the right priority at this stage.
Sole trader setups often work best when profits are mainly being taken out rather than retained.
More complex structures are not always necessary for simpler businesses.
Growth and future plans
As profits grow, the most suitable structure can sometimes change too.
Future plans often affect what setup makes the most sense long-term.
The way profits are taxed becomes more important when reinvesting for growth.
Risk and protection
Different business structures provide different levels of separation and protection.
As businesses grow, protecting what you are building often becomes more important too.
Visibility and confidence
Better visibility usually leads to better financial decisions and fewer surprises.
Many people continue with the same structure simply because nothing has prompted them to revisit it.
Your Summary
Work through the review to see your summary.
Areas where staying as a sole trader still appears to work well
- Nothing selected yet.
Areas worth reviewing further
- Nothing selected yet.
Overall summary
Your summary will appear here once you begin the review.
Want to send these answers to our team?
You can send your current summary straight to us, so you do not need to repeat everything again.
Send these answers to our team
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