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Business Structure Advice - Coursework Example

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It needs fiscal preparations and efficient supervision for the enterprise to succeed. A number of issues need to be considered even as one initiates the business. The owner should do a business that is authorized by the…
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Download file to see previous pages A market survey can also give you valuable information on how to overcome the challenges, spot the present and the future troubles in the business and discover other opportunities.
Financing a business that is just starting is always very difficult. The person in business should know the amount of cash that is actually required to begin and drive the business. You can start a business with the individual money or capital obtained from acquaintances, and relatives (Kurtz, & Boone, 2011). The individual investments show your obligation to the business and also give you a chance to request support from the government subsidy. This subsidy may be a loan for which you are expected to pay back the principal amount including the interest. These business loans are either short term or long term hence it will depend on the size of the business you want to venture in.
There are different business structures or forms. You should consider what business form is efficient for your needs depending on whether you want to conduct the business by yourself, or you want to do it with a colleague. According to Pride, Hughes, and Kapoor (2012), an appropriate business form is determined by monetary, individual, law and duty issues. The following types may be suitable for a new business venture: Sole proprietorship: This is a business owned by a single person. The owner is entirely in charge of all its operations. All the earnings from the business are for the sole proprietor. It is possible for the owner to use own assets to remove the debts. Sole proprietorship is advantageous because: it is easy to start, the starting fee is moderately low, the management load is small, the owner is fully in charge and can make his choices in the business, and all the income goes directly to the owner. However, this form of activity has open problems, for instance, if you have debts, the individual resources will be used to remove the debts. There is also no stability in business ...Download file to see next pagesRead More
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