Discussion 5.2: Forms of Business Ownership

Think of a business you would like to start. Imagine that several of your friends decide to join in with you on this business. You have to use your own money to start and none of you has a lot of extra money, so you plan to start small. However, eventually you would like to expand to open multiple branches in different locations.

Briefly describe your business, then answer these questions:

  • What form of ownership should your new business take, and why?
  • What are the advantages and disadvantages of the form of ownership you selected?

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