Project: Business Formations
Purpose: To develop an understanding of forms of small businesses formation decisions.
Instructions:
Part A (Worth 100 Points): You are serving as an advisor to a client who would like to change his/her sole proprietorship small business to a Limited Liability Company (LLC) or Corporation. He/she is unsure about the benefits of an LLC or Corporation. You need to find a way to explain to your friend the benefit of this type of business formation.
You decide to write a short professional memo to explain the benefit of a LLC or corporation. Prepare a well-written one-two page (single-spaced) memo. In drafting your memo, you will need to create a fictitious company you are writing the memo to assist in this business formation change.
Be sure to include the following sections in your memo.
- Explanation of an LLC or Corporation (see chapter 21-22)
- Conclusion showing a strong recommendation for the formation of an LLC or Corporation.
Guidelines:
- Use grammatically correct business writing that is “audience centered, purposeful, persuasive, and economical” (M.E. Guffy & D. Loewy, 2010, p. 50).
- Be sure to cite your sources (if relevant) using APA. Please use the American Psychological Association (APA) format for in-text citations (may not be relevant in this assignment). Instruction for using APA can be found online athttps://owl.english.purdue.edu/owl/resource/560/01… (Links to an external site.).
- Do not plagiarize.
