Julie has a new mining venture that requires $1m and she already has 80 potential investors. To commence exploration she will only need $600,000, and the remainder will be needed in a year. She plans to allow investors to own 75% of the business and she will hold 25% of the shares. However, once the business is more successful and valuable, she will probably sell some of her interest.

Julies accountant has advised her to register a proprietary company. Do you agree with this advice? What else might you advise her to assist in achieving her objectives?