Sole Ownership - no protection
Partnership - no protection
Close Corporation - some protection
Pty Ltd - a little more protection
Trust - if done correctly - maximum protection
NOTE: There should never be any doubt whether to marry Out of Community of Property i.e. with Antenuptual Contract (ANC) -and preferable without the accrual system - JUST DO IT!
The worst possible scenario would be if you run your business as Sole Proprietor or in a Partnership AND you are married In Community of Property. If the paw-paw hits the fan then you WILL be wiped out.
Always consult a reliable lawyer and/or registered accountant/accounting officer/auditor with regards the above
Visit Petes Weekly and Business Warriors for more comprehensive information.