Scenario: Friends, Christine, Grey, Ari & Brad want to start a business by combining their individual skills and resources, which gives them a better chance to be successful in their business endeavour.

They realise they will need increased funding for their business. (Ari has plans to go global)

They have been advised to visit a charted accountant for advice on how to move forward.

Question:

They would like advice on which is the best structure for them to operate their business under. Either a partnership or a company, and information on what regulations would impact on their choice.

Consider the rights and responsibilities of both partners and shareholders,liability, disclosures, record keeping.

Discuss the options available.

(Approx 500 words)