Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and the Yahoo Answers website is now in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.

Anonymous
Anonymous asked in Business & FinanceSmall Business · 2 months ago

What form of business is available, I need recommendation!?

Our family is talking about opening another business in different city and allowing

the younger generation to run it. They would supply a startup loan, but all other decisions would be made by my nephew and two nieces. What forms of business

organization are available to them and what are the pros and cons of each? 

4 Answers

Relevance
  • Paul
    Lv 4
    2 months ago

    It' incredibly foolish to ask a bunch of clueless anonymous Yahoos what kind of business entity to create.

    Find someone who knows what they're talking about and ask them. You need competent accounting and legal advice to understand anything about what the entities are, how to form them, and how to operate them, not mentioning how each entity is taxed.

  • ?
    Lv 6
    2 months ago

    You can start any business you want to.  No one cares but you and your siblings.  Ask them.

  • ?
    Lv 5
    2 months ago

    Why do you not start the same kind of business that was so successful for your family in the first city?

    You'd have to have refuse in your brain to do otherwise.

    AND why is it that the original business cannot provide the financing for the second business?

    If you cannot think your way out of this without having to rely on random people on Yahoo, then you are not ready for the second business.

  • Anonymous
    2 months ago

    You are not getting a startup loan.

Still have questions? Get your answers by asking now.