architecture

But also there is a downside of it. It's hard to get financing, unlimited financial liability plus in most cases lack of management skills that can cause failure of the project. Second option is creating a Partnership. Victor could just call one of his friends, mechanics, and start the business with one of them being partners. Partnership also has its advantages and disadvantages. It's easy to form same as proprietorship, but it's easier for partnership to raise funds, plus complementary management skills of partners helps business to grow, as well as full security of information. The disadvantages are possible disagreements between partners, limited amount of financial resources, lack of continuity plus complexity of dissolution, not forgetting about unlimited financial liability. The last option for Victor is creating a corporation. It is costly, government can interfere in you business, lack of secrecy of operation and lack of personal interest on management positions that make it possible to be not as successful as the first two options. Talking about all the good things about Corporation let's mention that it has limited financial liability, banks trust Corporations more and land them mon


 
 
 
 
 
 



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