On the other hand, sole trader or “sole proprietor” and partnership are not suitable for Marc Jacobs because they are unlimited liabilities that means if the business gets into obligation, the entrepreneur is obligated and in this case the person dangers their home, and whatever available assets they have both in and outside of the business and that will be dangers for Marc Jacobs because he has an expensive and costly assets. Another blemish in these categories of business structures is that they are often work long hours and
find it difficult to take holidays, or time off if they are ill or any Crisis and that is not good for Marc Jacobs because he should have a long time to designed and produces the new designs to the public. Also, Finance, sole traders and partnership often find it difficult to raise finance to fund their business compared with the private limited company which is easiest because they are so many shareholders in it. In addition, decision making in the sole trader and partnership all decisions must be made by the owner. There is no space for help by others. So the victory or disappointment of the business rests on one man but in the private limited company the owner ‘ Marc Jacobs’ can discuss his ideas or any decision with the shareholders and members of the company.(Adrian, 2010) and (My own idea, 2014).
On the other hand, sole trader or “sole proprietor” and partnership are not suitable for Marc Jacobs because they are unlimited liabilities that means if the business gets into obligation, the entrepreneur is obligated and in this case the person dangers their home, and whatever available assets they have both in and outside of the business and that will be dangers for Marc Jacobs because he has an expensive and costly assets. Another blemish in these categories of business structures is that they are often work long hours and find it difficult to take holidays, or time off if they are ill or any Crisis and that is not good for Marc Jacobs because he should have a long time to designed and produces the new designs to the public. Also, Finance, sole traders and partnership often find it difficult to raise finance to fund their business compared with the private limited company which is easiest because they are so many shareholders in it. In addition, decision making in the sole trader and partnership all decisions must be made by the owner. There is no space for help by others. So the victory or disappointment of the business rests on one man but in the private limited company the owner ‘ Marc Jacobs’ can discuss his ideas or any decision with the shareholders and members of the company.(Adrian, 2010) and (My own idea, 2014).
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