Company Law Assignment Essay Example | Topics and Well Written Essays - 2500 words

Company Law Assignment - Essay ExampleAnyone who wants to localize up a retail blood endanger should be prepared to breathe, eat and dream naturalise for his problem to succeed. A retailer buys goods in bulk from wholesalers and resells the goods at a profit to consumers at the recompense size and an appropriate price. With reference to the amount of capital available for this family for the handicraft ventures, I would suggest a sole proprietary for the retail business venture. This business legal structure go forth allow the family to get its unincorporated business.This business venture will allow parents to delegate responsibilities to their children for the activities of the business unknot smoothly (Pride et al. 67). The family will operate the retail business as an extension of itself. The organizational structure of a sole proprietorship business is attractive since the losses and the profits of the retail venture are entered in the owners tax returns. This busines s structure does non have a room for separate filling. The owner of the business is accountable for any business liabilities thus, the head of the family will manage to involve his spouse and kids in the business, and explain them from the liabilities of this business. Therefore, should anyone sue the business for injury, happy chance of contract or debts, the court can only levy the spot of the head of the family, but not any property that belongs to the wife or children. As far as the relative flexibility of a sole proprietorship retail business is concerned, the business is easy.... This business venture will allow parents to delegate responsibilities to their children for the activities of the business run smoothly (Pride et al. 67). The family will operate the retail business as an extension of itself. The organizational structure of a sole proprietorship business is attractive since the losses and the profits of the retail venture are entered in the owners tax returns. Thi s business structure does not have a room for separate filling. The owner of the business is accountable for any business liabilities thus, the head of the family will manage to involve his spouse and kids in the business, and exempt them from the liabilities of this business. Therefore, should anyone sue the business for injury, breach of contract or debts, the court can only levy the property of the head of the family, but not any property that belongs to the wife or children. As far as the relative flexibility of a sole proprietorship retail business is concerned, the business is easy, and its structure is easy to understand. Further, the business is highly flexible, because it is run the way the owner of the business decides. Liability of this business lies with the owner and nobody else, and he is accountable for the whole activities of this business (Pride et al 67). Sole proprietorship can easily attract funding from banks and early(a) monetary institutions. A retail busin ess venture under sole proprietorship has several merits. The first advantage is that the business is less complex, and decision making process is uncluttered and fast than a partnership, or other business structures (Boone & Kurtz 78). Furthermore, the chief merit of a sole proprietorship is that it is the