Beatrice and two friends want to start a cupcake bakery.They feel they will need to hire two people to help bake the cupcakes and one administration clerk.What will be a major consideration in how they legally organize their business?

Question

Quizplus · Accepted Answer

The needs of the entity and/or owners will be a major consideration in choosing the legal structure of the business. The owners will need to decide on factors such as liability protection, tax implications, and ownership structure, and select the legal structure that best meets their needs. Factors such as profitability, benefits for employees, and termination procedures will also be important, but ultimately the legal structure should be chosen based on the needs and goals of the owners.

Beatrice and Two Friends Want to Start a Cupcake Bakery