From the four scenarios described below, indicate the business form each one is likely to take (sole trader, partnership, proprietary company or public company) and identify the main reason for this choice. a) Lucy wants to set up a summer business at a nearby resort to sell T-shirts, souvenirs and novelties to tourists. While she has no assets of her own, Lucys uncle has agreed to lend her the capital to acquire merchandise and so on.

b) Three friends meet at a coffee shop to discuss what they have to do to start a home maintenance business combining the skills they have. Tom is a plumber, Bill an electrician and Sandra a carpenter.

c) Two married brothers (Will and Sam), who are both trained and practising plumbers, wish to combine their business into one so they can share resources and take more holidays.

d) Connor and Ella wish to start an internet business marketing cosmetic. They are concerned about the legal issues (their personal liabilities) for this business once they start trading.