Question

Jack and Jill are two individuals who have passed out from engineering college in
Mumbai. Jack and Jill both have attained 18 years of age. Now both want to start a startup
for robotic services. Can you advise them:
a. What are (i) the different form of business, (ii) their pros and cons and (iii) what is best
suited form of business which will be applicable to their start-up?

Answer 1

Answer:

Here the owner and manager is the same person, who will have the responsibility of taking care of each and every aspect of the business. This is a common business structure. With this structure, operation is easy and devoid of any authoritative control. Managerial flexibility is much more in this form and legal obligations are lesser when compared to other forms of business.