Structure of Your Business

Business structure strategy

This tax help and tax tips page is to help guide you to set up your business structure which is second part of your business plan process.

You will need to decide on the legal business structure of the business. You can refer the tax effective structure page on this Tax Help & Tax Tips site for more information.

People strategy – You need to have following good systems and procedures for human resources management.

• Good quality recruitment process

• Ensure that staff are properly trained

• Do not delegate tasks beyond capability levels

• Ensure that staff are aware of systems and standard procedures

Technology strategy – Your business plan should identify your approach to the operating systems that will increase efficiency and increase in quality control. You also need to create a business operating system with proper backup procedures. In case of emergency your business system should be able to restore with a minimal time disruption.

Marketing strategy – When you have a clear objective in your business plan, you can identify your marketing strategic plan where you want to move from your current position. A clear objective you developed should be used as your road map. Your marketing strategy should include market research, identifying your target market, competitor analysis, strategic alliances, positioning and budget. You will need to concentrate on the most appropriate marketing activities and use your resources wisely.

Risk management strategy – You need to have adequate insurance place. You need to protect current and desired future financial positions from adverse financial effect of events such as disability & death or a fire & flood sweeping through your business or somebody suing your business.

Disclaimer

Every effort has been made to offer the most current, correct and clearly expressed information possible within this site. Nonetheless, inadvertent errors can occur and applicable laws, rules and regulations may change.

These materials on this website are general in nature. It is made available on the understanding that the JH Business Services & Taxation is not thereby engaged in rendering professional advice. Before relying on the material in any important matter, users should carefully evaluate its accuracy, currency, completeness and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.