Tyler, a 27-year-old married man, just completed his fifth year as a journeyman carpenter with John Casey Homebuilders, a small
homebuilder 25 miles from his hometown. Tyler has just received an inheritance of $100,000 from his favorite aunt. During the past five years, Tyler has been able to purchase many of the tools and equipment that he needs to be a good finish carpenter. He has not been satisfied working for John the past couple of years and has talked with his wife about starting his own business. Tyler’s wife, Esther, agrees that in order to be happy, and fully supports him in opening his own business. Esther graduated from the local university with a degree in liberal arts but stays at home with the kids. What type of business organization should Tyler adopt? ________________________ Why?
The type of business organization should Tyler adopt is the sole proprietorship. A sole proprietorship is a form of business that is owned and managed by one person
He should adopt this business as he can manage the business himself and will also full control over it and also due to the fact that the start up cost is low. He will also have full access to the profit alone.
