Running a business as a Partnership or as a sole trader, you need to tread carefully. These simple entities are popular, as they are easy to set up. They are also simple to manage and have fewer complications than a company or a family trust, making reporting easy to prepare. However, partnerships are most suited to businesses operated by family members, individuals or those working on a small scale. Partners in crime - mates don't always make good business partners It's worth noting that a partnership can be formed between individuals, trusts, or companies. A sole trader is just you. [...] READ MORE