Strategy before structure

By Lloyd Russel, Principal TCB Solutions

When starting up a new business venture, expanding current operations or diversifying the current business our first actions, as owners of family and private businesses, are to seek advice as to the structure of the business.  This is a legitimate course of action for a number of reasons including:

  • The desire to get started quickly and leverage our current technical expertise to exploit the business opportunity;
  • Find the best way to leverage personal assets and raise the necessary capital for the business venture;
  • To protect personal and business assets; and
  • The people we know are usually the Accountant, Legal Professional, Financier and Insurance Broker.

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