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Mr. John decides to start a small business with the intention to expand it in the...

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Finance

Mr. John decides to start a small business with the intention toexpand it in the future. He has some capital, but he fears he maylose some of his personal assets if the business fails. Also, Mr.John is not sure he has enough capital to proceed with asustainable business. At the same time, he has some doubts insharing the ownership of his business with partners that had not toparticipate in the 'creation of his business project'.

Having in mind these issues, advise Mr. John regarding what youconsider to be the optimal business type for a safer, and with moreprospects of development and sustainable growing business. Argue bycomparing the business types that can be considered a viableoption.

(400-700 words)

Answer & Explanation Solved by verified expert
4.2 Ratings (891 Votes)
Mr John has to carefully decide the legal status of his business Legal status is very important because it can protect Mr Johns asset in case of failure of business Mr John should consider registering his business either as a one person company private company or limited liability partnership    See Answer
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