Michelle wants to start a business, but she is unsure of the legal form best for her. Short of cash, she has decided to take the form that is the least expensive and most flexible in terms of decision making and implementation. Which would you recommend?

Question

Social Studies

Marina Thompson

20 September, 01:32

Michelle wants to start a business, but she is unsure of the legal form best for her. Short of cash, she has decided to take the form that is the least expensive and most flexible in terms of decision making and implementation. Which would you recommend?

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Peyton Schmitt · Answer 1

Answer & Explanation: In such a case/scenario, we can recommend Michelle to opt for a sole proprietorship. Sole proprietorship which at times is also known as sole trader, individual proprietorship or entrepreneurship, is referred to as a kind of enterprise or organization which is owned and governed by an individual and under which there are no legal distinctions between owner and business entity.