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3.1, Take the sub heading Business Structure of Perfect Pets. Say that it is important that you find out what type of business structure Perfect Pets. As a systems analyst you need to find out the business structure as you could make recommendations if this is the best arrangement for the business now or in the future. Perfect Pets could be one of several types of business structures recognised in the law for example. Partnership, Sole Trader, Limited Company PLC, Public limited company Explain each one of these briefly and say which one perfect Pets is.
Conclude by saying that Perfect Pets is Currently a partnership (although there is no evidence to suggest that there is a formal partnership agreement) because the business is fully owned by Paul and Peter Go on here…to say how they are entitled to all the profits from the business and are liable for any losses in other words use your knowledge of a partnership agreement and apply it to Paul and Peter
Is this the best option or should they change in the future?
Say that a Partnership is a good arrangement for this type of professional business however as the business continues to expand the partnership may need to take on extra partners to raise capital top allow it to expand or it might be better forming a limited company for one side of the business? Also should the farm part of the business separate from the veterinary side of the business and form two separate partnerships? Would this be better in the long term as it offers limited liability, in other words no loss of Peter or Paul’s personal possessions etc if the business were to go wrong. A Limited Company would also provide extra capital for the business to expand but selling shares in the company possibly other members of the family would want to invest. This would be useful to raise capital to invest into a purpose built practice at the farm premises that would incorporate the grooming, dog walking and pet insurance businesses that are being
Conclude by saying that Perfect Pets is Currently a partnership (although there is no evidence to suggest that there is a formal partnership agreement) because the business is fully owned by Paul and Peter Go on here…to say how they are entitled to all the profits from the business and are liable for any losses in other words use your knowledge of a partnership agreement and apply it to Paul and Peter
Is this the best option or should they change in the future?
Say that a Partnership is a good arrangement for this type of professional business however as the business continues to expand the partnership may need to take on extra partners to raise capital top allow it to expand or it might be better forming a limited company for one side of the business? Also should the farm part of the business separate from the veterinary side of the business and form two separate partnerships? Would this be better in the long term as it offers limited liability, in other words no loss of Peter or Paul’s personal possessions etc if the business were to go wrong. A Limited Company would also provide extra capital for the business to expand but selling shares in the company possibly other members of the family would want to invest. This would be useful to raise capital to invest into a purpose built practice at the farm premises that would incorporate the grooming, dog walking and pet insurance businesses that are being