New business classification slowly gaining traction

SSM is working to educate more people about the benefits of incorporating companies as an LLP.

When an entrepreneur has a light-bulb moment, the least of his concerns would be what type of business he should set up to capitalise on his idea.

That is what the movies say. In reality, the business vehicle matters as it could determine the laws that govern the business, the owner(s), the fees involved to keep it a going concern, the taxes involved or simply, reputation.