Essay about Business Plan For A Business Organization
I welcome the opportunity to consult you regarding your future business plans and hope to put your mind at ease over some of the concerns we previously spoke about with regard to the possibility of a change in the business organization and what that might entail.
Some of your main concerns as a business owner are in regards to the risk and liability that accompany a sole proprietorship. Some of those concerns were: the possibility of an increase in having a backlog of work and having to hire outside workers. Installation errors going wrong and causing an injury, licensed drivers getting into accidents, and workers becoming injured or injuring another while on the job. You are concerned over the liabilities that you may face as well as the bills and loss of personal assets if the business were to fail.
Steiger Manufacturing is a very successful business and your desire to expand geographically and add a second factory in the neighboring state reinforces the need for a change in the organization of your business. Moreover, some ways to increase investiture into such an enterprise would require, as suggested taking on a shareholder, and addressing your concern over the effect it may have on liability. To have shareholders you would be forced to change to a business format to that would allow their existence. If you were to sell the business you would have to start from scratch and the new owner would choose the type of organization that he wants for the…