Firstly I would look at the welds that connect the drawbar to the trailer, this is where most failures occur. Not to sure about square axles, as round is much harder to bend, size for size. Depending on your expected trailer gvm, brakes are a requirement, if more than 750 kg, suspension can be as simple as a set of 7 leaf rebounders, which will do everything you need, through to independent, price and spare part avaliabilty is something to be considered. Have a look at some of the camping shows to get some ideas, but don't get sucked in to some of the advertising.
Cheers.
Tony F8.