210k views
1 vote
After taking a quiz and assessing your entrepreneurial potential, what type of business would you consider starting, and what factors influence your decision?

1 Answer

4 votes

Final answer:

The type of business that Berkeley should consider depends on her goals, risk tolerance, and desired level of control. Options include sole proprietorship, partnership, corporation, and limited liability company (LLC).

Step-by-step explanation:

The type of business that Berkeley should consider starting for her new retail business selling local products to tourists in the summer depends on various factors such as her goals, risk tolerance, and desired level of control. The different business structures she can choose from include sole proprietorship, partnership, corporation, and limited liability company (LLC). If Berkeley wants complete control and is willing to take on all the risks and liabilities, she can opt for a sole proprietorship. On the other hand, if she wants to share the responsibilities and risks with a partner, she can choose a partnership. If she wants to separate her personal assets from the business, she can go for a corporation or an LLC.

User Tsherwen
by
8.0k points