Asset protection for starting e-commerce store

Hi everyone

I’m exploring setting up an e-commerce store. I own a few properties in my personal name.

What are the best option for asset protection?

If I was to set up a ABN and register my business, assume that’s not sufficient protection if someone sues my business?

Would a company set up be more appropriate, assume I’ll be a director?

@Terry_w do you already have some tax tips on this I’ve missed?

Thanks all

 

Asset protection is a legal issue so I have many tips in the legal section - legal tips
Terryw's legal Tips Index

 

You have assumed correctly.

 

What markets are you looking to sell into?
I'm selling on amazon into North America only and set up a P/L company here. Really, it's been the least of my worries.

 

@Cousinit thank you so much for sharing your experience
I’m planning to sell to Australia mainly. I’m planning to sell via e commerce store at least initially.
I’m working on the logo and design of the packaging Atm and hoping to tick off setting up the company structure for it in the coming month.
did you use a lawyer to help you with the paperwork of setting up the company or did you do it yourself if you don’t mind me asking
Assume I’ll be a director.
Googled and this was the first link
Personal Liabilities Of Company Directors - Sprintlaw

hows your experience been selling on Amazon? I heard they need a lot of certifications and documentation?

Thanks again!

 

My accountant helped me with company establishment. It was no big deal.
I've been selling for about two years now and I found the process quite hard. Without my mentor I would have given up long ago. I make a little money now but my trademark only came through a few months ago. I am planning on another 2-3 SKUs. Looking to India for manufacturing now.

 

These guys can help you with setting up your affairs - Linky

 

consumer products ?