Your task is to create the text for a short speech that you, as the head of this business, would give to your employees to let t
hem know what you have decided to do with the business. You may choose to (a) keep the business a sole proprietorship, (b) change it into a partnership, or (c) change it into a corporation (which we call “incorporating” the business). For the purposes of this project, you are welcome to decide what kind of product or service your business offers, but that is not required. It may just make it easier to decide what type of business structure would work best for the business you are running for this project. In your speech, you must do each of the following (in any order): • Announce what type of business structure your business will have (sole proprietorship, partnership, or corporation). • Explain the advantages that led you to choose this type of business structure. (For full credit, you need to accurately address multiple advantages, not just one.) • Explain the disadvantages that led you to decide against each of the other two options that you did not choose. (For full credit, you need to accurately address multiple disadvantages for both discarded options.)
Dear employees, in view of our small market and the challenges that the current period imposes on small companies, we decided to keep our business as an owner. We know that this choice is a big challenge and that it will cause us less funding to invest in our products, which can be a competitive disadvantage and can generate us less profits, however, this choice allows us to have more control in our production, that we can choose our suppliers and that we can choose the type of sales and marketing that best suits our region. I count on your support and effort to overcome this phase and become bigger and bigger according to our own desires.
