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What's the best business structure for me and my husband starting 2 design businesses?

Newbie

Views 132

Replies 1

My husband and I both offer design services in two unrelated industries, however there is a high potential of his clients using my service; interior design.

 

We want to use the same business name (basically our surname, then 'designs'). Also sharing domain name for a website and email addresses.

 

Should we set up two sole trader ABNs or become a partnership under one ABN? Anybody been in a similar situation? Just wondering which direction makes the most sense, or if there's another option I haven't thought of.

 

TIA!

1 ACCEPTED SOLUTION

Accepted Solutions

Most helpful response

Former Community Support

Replies 0

Hi @JaneV,

 

If you do plan on sharing business name, domain, email address and both offer design services then partnership may be better suited for you and your husband. With a higher percentage of clients using your service, you may need a partnership agreement in place which states how profits and losses are shared. 

 

I have found some information about types of business structures and a business structure tool from our website to help you choose the right one. 

 

All the best!

1 REPLY 1

Most helpful response

Former Community Support

Replies 0

Hi @JaneV,

 

If you do plan on sharing business name, domain, email address and both offer design services then partnership may be better suited for you and your husband. With a higher percentage of clients using your service, you may need a partnership agreement in place which states how profits and losses are shared. 

 

I have found some information about types of business structures and a business structure tool from our website to help you choose the right one. 

 

All the best!