A trust is an arrangement between two or more parties whereby one party (the trustee) holds the assets within the trust on behalf of another party (the beneficiaries). While a trust can operate a business, the trust itself should not be considered a business. The trust deed provides rules, powers and guidelines and would need to written in such a way that allows a business to trade through a trust. Generally speaking, a company will act as the trustee of the trust and there will be nominated beneficiaries (usually the business owner and a beneficiary company). The trustee will then register a business name which will become the name the business trades under. This type of business structure is generally preferred for business owners seeking tax minimisation.