Structure impacts sustainable profits

Structure is required to grow profitably and sustainably

Have you thought about the advantages of the various business structures? Should you form a limited liability company, and how do you go about it? Are you unsure if you need to create a not-for-profit organisation for your activities or remain a sole trader? No doubt, having a good structure impacts profitable growth and sustainability.

Designing an organisational structure helps you identify all the critical parts of the business and ensures enough resources are available to accomplish your plans. It is also essential that responsibilities for each part of the structure are clearly defined. Each person must have a clear function or job description that outlines their responsibilities. Each job occupies its position in the structure and how it relates to the other parts.

The following answers some of the most frequently asked questions regarding the incorporation of your business or organisation. Remember that the actual types of structures vary from country to country. Therefore, anyone from multiple countries will find it always pays to seek professional advice.

Often in smaller organisations, people do not always like what they are doing or are doing what they are good at. Therefore, they have little regard for the rest of the operating structure.

Many legal structures exist, with advantages and disadvantages as set out in the Knowledge Base. If unsure, seek immediate advice.

Quotable quotes

“Definition, rationality, and structure are ways of seeing, but they become prisons when they blank out other ways of seeing”. A.R. Ammons

“If we can by any method establish a relation of mutual trust between the labourer and the employer. We shall lay the foundation stone of a structure that will endure for all time”. Mark Hanna