Taking the Leap: Business structure essentials

2 min read

Starting a business doesn’t have to be hard. This meet up series is perfect for everyone who wants to make money from their passion.

A group of excited idea-makers gathered to attend Taking the Leap hosted by Honcho and Law Squared. The conversation this month was all about starting a business in 2018 and finding the right business structure to match your goals.

 

Did you know a whopping 80% of Australians are turning to side hustles as a way of finding fulfilment outside work?

 

Honcho Marketing Manager, Joanna Allen led the discussion: “How we make money and prioritise our free time is very different from 10 years ago. Today, technology and infrastructure are growing to accommodate the rise of freelancers and small business owners. If you start a business in 2018, you can work from anywhere in the world.”

 

The mic was then passed to Law Squared, founder Demetrio Zema. He asked the room to raise their hand if they have already started their small business - or hope to in the future. Every hand was in the air.

 

Demetrio then dived into his discussion: “Honcho and Law Squared have a lot in common. We want to give new and growing business owners the support to thrive. As an entrepreneur, I’ve learnt the power of being passionate and dedicated to creating change and believing in your vision.”

 

Demetrio broke down the pros and cons of Australia’s most popular business structures including sole traders, companies, partnerships and trusts. For a recap, read our blog on choosing the right business structure for your small business.

 

During the evening, one audience member shared his dream of running a real estate business. He asked Demetrio the value of choosing a company over a sole trader structure. Another audience member with a technology startup asked about the importance of setting up a trust. To get the answer to these questions and many more, join us for our next meet up!

 

Joanna and Demetrio agreed that coming to events like Taking The Leap is brave and highly rewarding - especially in the early days of building a business. You have the opportunity to ask questions, get the right answers and meet others in the same boat. Plus  - they're normally free!

 

Taking the Leap was hosted at the co-working space, Tank Stream Labs.

 

The next Honcho meet up will be in early 2019 and headlined by inspiring industry leaders. No matter the stage of your business journey, come along for some free advice, networking and nibbles. Be the first to know the next date by joining Taking the Leap on meetup.com.

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