Instructions
Your friend, Bill Snyder, is still a student that wants to start a business after he graduates. The ideas for the business are not fully finalized. He knows that he would like to start a business that provides consulting with homeowners about their home and business landscaping, small structures used to improve and beautify the outside of homes. Bill thinks that he may have a couple of friends go in with him. However, currently, he simply knows he wants to consider the following business entities: sole proprietorship, general partnership, C corporation, S corporation, and a limited liability company. Bill would like to know what are the particular advantages and disadvantages of each type of business entity and whether or not each type would protect him.
Write a paper that states the advantages and disadvantages for each type of business entity that Bill is considering and that would offer him the most protection, whether he is a sole owner or has others in the business with him as owners. We are talking about using wisdom and knowledge to determine the best course of action. Therefore, add at least a paragraph to your paper that gives Scriptures regarding wisdom and knowledge and their application to making correct decisions.
Your paper should be four pages in length (not including the title and reference pages) and formatted according to current APA requirements. Support your paper with three academic sources in addition to your textbook; you may need to do additional research on the various business forms.
