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Amy has collected Shaker-style furniture for a number of years. After she lost her job, she decided to start trading in Shaker furniture. Initially, she
Amy has collected Shaker-style furniture for a number of years. After she lost her job, she decided to start trading in Shaker furniture. Initially, she did all her trading on-line, but after a year decided to rent a store and start dealing directly with the public. Demand has exceeded all her expectations, and she is looking to expand her business. While she has a wealth of knowledge about Shaker furniture and is obviously very capable as a salesperson, she has no spare money to put into the business. + Amy thinks she is currently operating as a sole trader, and has heard about companies and partnerships, but does not know much about them. + t a) Amy asks you to explain to her the key differences between a sole trader, a partnership and a company. t b) Which structure would you recommend for her growing business? Would your recommendation change, if- t c) Amy had a son in the final year of his marketing degree and who was keen to be involved in the business once he graduated? t d) Amy will need to borrow $100,000 to expand the business in the near future
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