14 Jun Question Tilly Gertz is interested in starting a new business
Question
Tilly Gertz is interested in starting a new business. Tilly has developed her business plan and is ready to implement her ideas. However, Tilly lacks the necessary finances to begin her business. Along with a lack of finances, Tilly worries about the potential liability involved with starting a new business. Tilly would hate to lose all that she has personally accumulated to date in the event of a successful lawsuit against her. She is considering a sole proprietorship, a partnership, or a corporation as the organizing structure of her new venture.
Which type of business would best serve Tilly’s needs at this given time?
Discuss the pros and cons of each type of business organization that Tilly may use.
Discuss the liability and protection involved and how financing could be obtained for Tilly.
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