Bik and Mart want to start a business together. The business will offer engineering consultancy services. Bik and Mart are both qualified engineers. The intended to employ Bik’s partner, Sally, on full-time basis as an administration assistant. Mart’s partner, Kama, will occasionally do some work to market, the business and will be paid at casual rates. The business will trade as ‘BM Engineers’. Bik and Mart are unable to decide on what sort of business structure would best suit their needs.
Required: Advise Bik and Mart of the advantages and disadvantages of suitable business structure.
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