Your friend, Elvern Entrepreneur, is thinking about opening a business, Pampered Puptown Puppers...

Question

Your friend, Elvern Entrepreneur, is thinking about opening a business, Pampered Puptown Puppers (PPP), a dog boarding and day care facility. Entrepreneur learns that you are studying Business and asks for your advice selecting a business form for PPP. You learn that Entrepreneur will need some capital to open the business, and is reluctant to share control of the business with others. With this information, considering sole proprietorship, partnership, and corporation, which business forms are available to Elvern? What are the advantages and disadvantages of each of the business forms Entrepreneur should consider? Of the forms that Entrepreneur should consider, which do you recommend, and why?

Write your answers to the above questions in a 750 word essay, double-spaced, and upload to Blackboard as a Word file. Cite any sources that you use in APA style.

Sanjukta · Accepted Answer

Law		2
Law                                                                                                                                    5
BUSINESS LAW
Business Law
It can be stated that taking into account in terms of Elvern’s preferences there are mainly 2 types of business is available such as partnership and sole proprietorship. 
It is indicated by Elvern that she wants to gain control over the business activities as much as possible and she also does not want to share it with other people hence sole proprietorship is appropriate for her as it will push her for concentrating on controlling and making decisions for her business. Some of the major advantages of the sole proprietorship are as follows:
· One has the freedom and also flexibility
· It is quite simple and affordable
· Simple income tax
· Less paperwork is involved
· Lowest fees of the business
· Simplified ownership
Some of the major disadvantages that must be considered by Elvern are as follows:
· Business credit and financing is quite hard for procuring
· Not liability protection
· Unlimited liability
· Selling becomes extremely challenging
· Difficulty in tracking and lack of financial control
· Raising the capital becomes quite challenging
Throwing light on the above-mentioned discussion it can be stated that sole proprietorship will be suitable for her as she does not need a significant amount of funds for the business (Darmansyah, 2018). Savings will suffice alone and if more funds are demanded then this amount can be borrowed from somewhere else. On the other hand,

Your friend, Elvern Entrepreneur, is thinking about opening a business, Pampered Puptown Puppers (PPP), a dog boarding and day care facility. Entrepreneur learns that you are studying Business and...

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