Anne and Ginny are thinking of buying and running a grocery store business together.They do not wish to incorporate, and would prefer to remain personally liable for the business.Which of the following business structures best suits their needs?

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A partnership is a business structure where two or more individuals carry on a business with a view to making a profit. Partnerships are relatively easy to set up and require minimal legal and regulatory formalities. Partners share in the profits and losses of the business, and are personally liable for its debts and obligations. This structure best suits the needs of Anne and Ginny as they wish to remain personally liable for the business, while sharing the profits and losses between themselves.

Anne and Ginny Are Thinking of Buying and Running a Grocery