Question

After doing B.tech, Shyam decided to start a business. He opted for manufacturing electrical
goods. He was keen to choose a form of business organization in which he could operate
business without hindrance of anyone. Identify the form of business organization which shyam
should choose and state ant two limitations which he likely to face.

Answer 1

Sole Trading concern and its limitation

Explanation:

• After doing B.tech, Shyam can choose Sole trading concern for manufacturing electrical goods. It is easy to set up and manage the sole trading concern without hindrance of anyone.
• The limitations which he likely to face is that there will be limited capital available for the sole trader and the size of the business will be small.
• The sole trader has to look after purchasing, selling, accounting but he may not be the expert of all and this will be a hindrance for the business expansion.

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Identify the form of business organization which shyam

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Answer 2

Answer:

Shayam should opt for sole proprietorship form of business. In sole proprietorship business, the company is owned by one person only.

It is one of the most simple types of businesses hence there is least amount of financial and legal protection for businesses. The business and the owner have the same identity, so the owner is liable for all the liabilities incurred by the company.

It is the best choice for the owners who want to retain full control of the company. It is easy nd less expensive to set up. Another major drawback of sole proprietorship is that raising capital becomes difficult.

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