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The right business structure is key Why the type of business matters When a business can't pay its debts, creditors have the authority to seize the business's assets to cover what's owed. However, some business types offer protection, keeping the owner's personal assets separate from the business's. This protection acts as a financial safety net, shielding the owner's personal belongings from being at risk. Choosing the right business structure is important because it determines how much per