On January 26th, 2023, the Entrepreneurial Odyssey workshop series organized by IEDC
MESCE in association with Institution’s Innovation Council held a workshop titled
“Choosing a Business Structure” from 9:30 AM to 12:30 PM. The event was led by Ms.
Reema Shaji, Global UGRAD Scholar.
The workshop focused on the various business structures that entrepreneurs can choose from,
including sole proprietorship, partnership, limited liability company (LLC), and corporation. Ms.
Shaji went over the advantages and disadvantages of each structure and helped attendees
understand the differences between them.
Participants were also provided with practical information on the legal and financial implications
of each structure, including tax implications and liability protection. Ms. Shaji also discussed the
process of registering a business and the importance of consulting with a lawyer and an
accountant to determine the best structure for their business.
The workshop also covered the importance of choosing the right structure for their business, as it
can have a significant impact on their operations, liability, and future growth. Attendees were
encouraged to consider their business goals, size, and potential future growth when choosing a
structure.
Overall, the workshop was well-received by the participants, who found the information and
exercises to be valuable and practical. Many attendees left with a better understanding of the
different business structures and how to choose the right one for their business.
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