In our discussion last week, you shared an idea you have for a new business. This week, you will recommend a business organization for that business.
For this discussion, choose the ideal form of business organization at year five of your business, and justify your choice. At startup, many of you would probably choose a sole proprietorship, which is not an option you can consider for this assignment. Your options include a partnership, a limited partnership, a limited liability company, a corporation, or a limited liability partnership. Consider all of the factors we've discussed (ease and cost of creation, owner's liability, taxation, need for capital, control, and transferability). State the 2 or 3 of these factors that are most important to you, explain why those factors are so important to you, and then explain why you selected your business organization based on those factors. Be sure to thoroughly justify your choice.
Post your recommendation by Thursday night, and then provide feedback to least two of your classmates by Sunday night.