1. David is an experienced restaurant manager who wants to open his own restaurant (at one...

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Economics

1. David is an experienced restaurant manager who wants to openhis own restaurant (at one location only) and be the manager of it.He knows that he needs at least $100,000 to create and operate thebusiness, and he knows that he can only raise $50,000 on his owntowards the $100,000 he needs. Name for him all of the types ofbusiness organizations that exist (all of them). Tell him which twoof those business organizations would likely be his best options,and tell him what the advantages and disadvantages of each of thosetwo are. Then tell him which one of the two you would recommendthat he use to operate the restaurant business, and include atleast two reasons as to why you would choose that type of businessorganization over the other one.

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3.7 Ratings (534 Votes)

The types of business organizations that exist are as follows 1 Sole Proprietorship 2 General Partnership 3 Limited Partnership 4 Joint Venture 5 Limited Liability Company 6 Business Corporation As david is not in possession of the the required initial capital needed to setup the business and the possibility of getting loans has also been not mentioned in the case See Answer

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