Question

Robert E. Grant is interested in starting a business that will take tourists on 4-day excursions around the northern part of Georgia to view and hike around historical American Civil War sites. This will involve providing transportation to and from his home base in Athens Georgia, as well as food and transportation, and lodging during the 4-day excursion. Before starting his business there are a number of things he wants to make sure of. First, he wants the business income to flow directly to his own personal tax return. Second, he wants to make sure that his personal assets, such as his home, are not at risk due to any type of legal problems his business may run into, such as an injury to a client, or difficulty in paying financial obligations of the business. Third, he wants to make sure that he maintains as much control as possible over the operations of the business. Basically, Grant needs the answer to two questions…

1. Given, these basic concerns Grant has in starting his business, what form(s) of business ownership would you recommend for him and why?

2. Grant has determined that he needs about $20,000 over and above the $10,000 he has in savings to get the business up and running. Given what you already know about Grant’s desires and expectations for his business, what type of financing should he seek to obtain this $20,000? Why?

Answer 1

I have answered the question below

Please up vote for the same and thanks!!!

Do reach out in the comments for any queries