Question

Emmanuel, a diligent computer programmer at the age of 28 years old has acquired advanced programming skills over the years. However, he is rather introvert and therefore, has few friends. Although he has performed system support services to many organizations, he has not established very close contact with any of them. Emmanuel has been thinking of setting up his own business for some years. Being a frugal person, he has managed to save $40,000 and intends to sell off his superbike for $10,000 to add to the start-up cost. Unfortunately, he does not have much financial knowledge at all, and he is not an experienced manager. Understanding business is extremely important, this may include the overall approach of choosing the right startup for the business, the different functions of business and how will it go about when the business operations kick off. 1. From the given scenario, choose and assess the form of business ownership that is most appropriate for Emmanuel, (12 marks)​

Answer 1

Answer: Sole proprietorship

Step-by-step explanation:

Since Emmanuel is a lone person and has no connections, a sole proprietorship is an answer. He will be able to control everything but that also means that if he has liabilities, only he will have to be responsible for them.