Question

james and rose are entrepreneurs in the beauty industry. Discuss the form of business James and Rose can enter into and why this form of business would be advantageous

Answer 1

Answer:

they can enter into Partnership

Explanation:

ADVANTAGES

• Easy Formation – An agreement can be made oral or printed as an agreement to enter as a partner and establish a firm.
• Large Resources – Unlike sole proprietor where every contribution is made by one person, in partnership, partners of the firm can contribute more capital and other resources as required.
• Flexibility – The partners can initiate any changes if they think it is required to meet the desired result or change circumstances.
• Sharing Risk – All loss incurred by the firm is equally distributed amongst each partner.
• Combination of different skills – The partnership firm has the advantage of knowledge, skill, experience, and talents of different partners.

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