Therese is a talented designer who wants to start her own women's swimwear and beach towel line. But first, she is trying to decide which form of business ownership is right for her. As a young mom who hopes to send her children to college some day, she does not want to jeopardize her savings in any way. In order to overcome these risks, Therese should start her business as a sole proprietorship.

Question

Quizplus · Accepted Answer

Therese is concerned about the risk of losing personal assets if her business does not succeed. Although the sole proprietorship is easy to set up, it may not be the best form of business ownership for Therese due to her need to protect personal assets. She may want to consider a form of ownership that provides limited liability, like a corporation.

Therese Is a Talented Designer Who Wants to Start Her