Case Study: Small Business Entity

Paper Summary:

This paper discusses first steps to establishing a new business such as the vision, regulatory environment, selecting business professionals and legal entity choice. The author reviews issues of capital and loan options. The paper points out the need for an accountant and various functions the accountant will perform.

From the Paper:

" Five friends have come together with a combination of business experience, construction experience and assets to form a new construction company. Two of the friends have experience in running companies, although little construction experience. These two have considerable assets. The remaining three have little financial capital to contribute but considerable construction experience including management experience. Outside capital will be necessary and the friends are considering the best way to set up their business to balance outside capital with outside control and to protect their own ..."

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