please help. please do not copy and paste previous answers. thank you
The following are the small business cases that you will work on for this assignment: Case 1: Tom and Sam are lifelong friends. They are both in their late 50s, and each has very successful career. They always wanted to open a local restaurant, and use it as a side job. They live close to a university town and think that is the perfect location for the business. Now that their children are grown up and they have more leisure time for themselves, they feel it is the time to start the business. The town already has some good restaurants, the competition is obvious. But they believe their business will still prosper as they have 20+ years of management experience and the Mediterranean food they plan to serve are delicious. What are the top 2 most suitable business forms that they should consider use? Case 2: Doctor Kacie has been working for BPMC, a big hospital, for 7 years since graduated from medical school. Some of the doctors ask Kacie to join them to leave the hospital and open their own medical practice. This will allow the doctors have more control over their business and make more money. The clinic will offer new or special cancer treatments. Some of these cancer treatments are still experimental. What are the top 2 most suitable business forms that they should consider use? Case 3: Peter is a money manager. He has 5 years of working experience with good investment record. He knows some wealthy families who want him to manage some of their money. Peter thinks this is a good opportunity for him to start his own private equity firm. He will use this firm to manage these families' money, and attract more funding from other accredited investors. Peter and his team will use the collected funds to invest in young but promising businesses. What are the top 2 most suitable business forms that they should consider use? In analyzing each case, your explanation should address all of the following questions: (1) Does this company have abnormally high operation risk compared to average new or small businesses? Do the owners need to make extra effort to protect their personal assets (meaning separate personal assets from business assets)? Will having business related insurances alone be sufficient to protect the owners against potential risks and liabilities? (2) At its early years, will the business be more likely to have business loss or profit? If it tends to lose money in early years, can the business forms you recommended help the owners to reduce their personal income tax? If it is more prone to make money in early years, can the business forms you recommended help the owners to reduce their personal income tax? (3) Is it likely for this particular business to change its owners/partners in next 2-3 years? If it does, will the organization forms you recommended allow them to do so easily, or at low cost? (4) What are the advantages and disadvantages of using each recommended organization form for this particular business
