Week 9 - Introduction to Business Structures

Question 1

John is interested in purchasing a lawn mowing business that he will operate himself.John is seeking your advice on the pros and cons of being a sole trader and what compliance requirements will he need to be aware of.

Question 2

In the scenario above John did purchase the business as a sole trader.John is now looking to grow his business, but needs a capital injection.John's brother Peter is interested in investing and working in John's business.John approaches you seeking advice on partnerships, how are they formed, what are the advantages and disadvantages and what law governs partnerships in Victoria.

Question 3.

John has heard the phrase all members of a partnership are both agents and principals of the partnership.John would like to know what is agency law and how might it impact on the operations of the partnership.