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Business studies

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Business studies

Category: Coursework

Subcategory: Family

Level: High School

Pages: 1

Words: 275

Name:
Tutor:
Course:
Date:BUSINESS: Flower Shop
SUGGESTED FORM OF BUSINESS: Sole proprietorship/partnership
RATIONALE: A flower shop will work best if any of the forms of business are applied. First, a flower shop required a lot of time and personnel commitment both with maintenance and running of the shop. Therefore, a sole proprietor will need an assistant if they are to run the shop 24/7 provided the entrepreneur has adequate and diverse skills to run the business as well as finance it. Alternatively, it can do well as an online business where not many people are needed to run the business. On the other hand, a partnership can also work as the partners can come together to raise the starting capital and also alternate and share different roles depending on their competencies.
BUSINESS: Text-Book Publishing Company
SUGGESTED FORM OF BUSINESS: corporation
RATIONALE: In this type of business, a corporate would be the best structure. To begin with, the cost of start-up might be too high for an entrepreneur to raise. The equipment used in this venture is quite expensive hence it will need a group of people to poo resources to finance it. Additionally, this equipment might lead to employee accidents while at work due to their complex nature. The consequence of this is lawsuits but corporations are indemnified against any outside losses not related to the investments.
BUSINESS: Law Firm
SUGGESTED FORM OF BUSINESS: Partnership
RATIONALE: The best structure for th…

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