Write a MEMO to Paddington explain to him the different kinds of business structures, how they work in regard to liability, profits and ownership and the pro’s and cons of each ( Sole proprietor, Partnership and Corporation) advise which would be best for him and any next steps that he needs to take.

Paddington Brown wants to set up a business.

He makes craft marmalade, jams and chutneys which he wants to sell online and in a store.

He has a friend Mr Gruber, who wants to invest in the business, and participate in the profits, but is not interested in doing any of the daily management or production work, however he still wants some say in the general direction the business goes in.

Paddington wants to be able to employ people and he will need to be able to access finance to expand out of his kitchen.
He wants advice on what is the best business structure for him.

Write a MEMO to Paddington explain to him the different kinds of business structures, how they work in regard to liability, profits and ownership and the pro’s and cons of each ( Sole proprietor, Partnership and Corporation) advise which would be best for him and any next steps that he needs to take.

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