A sole proprietorship is the simplest and most straightforward business structure, owned and operated by a single individual. It requires minimal registration and documentation, making it easy to set up with few formalities. However, it comes with unlimited liability, meaning the owner's personal assets are at risk for business debts. This structure is ideal for small, low-risk businesses with a single owner seeking a hassle-free startup process.

A corporation is a formal business structure that is legally distinct from its owners, providing limited liability protection. It requires more extensive registration, compliance, and documentation but offers the advantage of raising capital through shares. Corporations are well-suited for businesses seeking growth, long-term stability, and protection for shareholders from personal liability for business debts.

A non-profit corporation is a business structure designed for organizations with charitable, educational, or social missions. It allows earnings to be reinvested in its purpose rather than distributed as profits. This structure provides tax exemptions and limited liability for its members. Non-profits are ideal for those seeking to serve the community while maintaining legal and financial protections.

A partnership is a business structure owned by two or more individuals who share responsibilities, profits, and liabilities. It requires moderate documentation and is relatively simple to establish. Partnerships can be general or limited, offering flexibility in management and liability distribution. This structure is best for collaborative businesses with shared goals and mutual trust among partners.