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In class activity_various business forms_ML- Harmanjit Singh.docx

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Name: Harmanjit SinghStudents Number: 100814915Type of businessBest FormSole ProprietaryPartnershipCorporationWhy do you think thiswould be the best formConsultancy firm with 5senior consultantsPartnershipIt will be easy to run thebusiness and ensure asteady growth with goodprofit marginsComputer StoreSole ProprietaryA computer store would canbe opened in a partnershipbut due the marketcompetition and to cut downcost It would be easy tohave it as an individualbusiness and keep as muchas margins as possibleToy Manufacturing FirmCorporationTo run a manufacturingbusiness, you need to add ina lot of liabilities andrunning the business as acorporation you can have abroad spectrum to coveralong with minimal liabilitiesHair SalonSole ProprietaryYou can have the businessas a sole proprietary as thisis not a business whichrequired heavy investingand you can be your ownboss and have sufficientprofit to fill your pocket,moreover, you can avoidunnecessary taxes

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Term
Summer
Professor
N/A
Tags
Corporation, Types of business entity, Harmanjit Singh

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