Business for Megan and Its Advantages - Essay Example

Some of Megan's friends are willing to offer financial and other forms of assistance.

A sole proprietorship is the best form of business for Megan and its advantages, together with disadvantages of other forms of business organization with respect to Megan’s concerns, explain this. As a sole proprietor, Megan is responsible for the decisions of the business and therefore enjoys autonomy over her creativity plans. This will also protect her business from possible takeover by competitors such as Bean Counters. As a sole decision-maker under sole proprietorship, Megan reserves the power to determine when the business goes public, and the percentage of shares to offer, but any other form of business will deprive her of such autonomy. As a sole proprietor, Megan is also able to borrow finances, without any internal opposition, for financing her operations. Since her acquaintances are willing to offer different forms of help, she can incorporate them as creditors, employees, or volunteers into the business. Other forms of business organizations such as partnership and companies will however limit her power over the business (Miller and Jentz 353- 357).