Assignment:
A ssignment Topic - Case Scenario (Business Structures)
Barbara and Brandon have decided to go into a ‘Travel Agency' business together. They will be focusing on providing budget travel and accommodation packages to International Students travelling and holidaying in Australia to a wide range of popular tourist locations.
They currently have around $40,000 in assets and intend to take out a Loan of $40,000 from the Bank- to help establish their business.
Their projected income for the first twelve months is around $80,000 but they expect that if they are able to offer a high quality and reliable services, their business should be able to grow quicker than that.
They are planning to attract investors to become part owners of their ‘Travel Agency' business.
Before commencing, Barbara and Brandon seek your advice as to the advantages and disadvantages of entering into different types of business.
PROVIDE ANSWERS TO THE FOLLOWING TWO QUESTIONS
Question One:
Provide detailed advice and recommendations to Barbara and Brandon as to the most suitable business structure for their new ‘Travel Agency' business.
Question Two:
Explain the process and requirements that Barbara and Brandon will have to follow in order to register the most suitable business structure for their new ‘Travel Agency' business.