Suppose you have some money to invest. You hope that you will start a business with that money. You may or may not involve other partners and you may or may not choose the company structure as the form of your business. Considering the relative advantages and disadvantages of the different legal forms of businesses (i.e. sole trader, partnership or company), which form will you choose for your business and why? What are the advantages and disadvantages you expect due to choosing that specific structure?
The business.gov.au site articulates some practical aspects to consider in choosing the business structure.