Scenario Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with.

Instructions

Using the information provided below, answer the questions in Parts I and II below.  The submission must be in a chart and an essay format and adhere to the syllabus guidelines.

Scenario

Wanda is concerned that if she grows the business, she may take on more financial and personal responsibility than she is comfortable with.

Your Task

1. Prepare a chart showing the forms of business ownership Wanda could adopt for Salty Pawz as she expands. For each type of ownership described in the book, from a sole proprietorship to various corporations, you need to provide the advantages and disadvantages of each option as they relate to Wanda’s businesses. Be sure to have at least four columns. The columns should be Business Type, Business Description, Advantages, or Disadvantages.
2. After exploring the advantages and disadvantages of each form of ownership, which form would you recommend for Wanda and Salty Pawz, and why?
3. Lastly, if Wanda decides she wants the two friends she works with to become more formally involved in the ownership of the business, does that change the advice you gave her in part (b) above? If so, how? If it does not affect your advice to her, then why not?

Remember your submission should be 1 – 2 pages. The assignment must be double-spaced, using no more than 12-point font and standard margins of no greater than 1” on all sides.