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Global Market

Autor:   •  August 12, 2013  •  Essay  •  640 Words (3 Pages)  •  868 Views

Page 1 of 3

When starting a new business, regardless of what kind of business it is there are has to be motivation as well as a whole lot of patience. A lot of research must be done when opening a business. A person who wants to open a new business must have a well thought out business plan to take to any potential partners or investors to help increase their chances for better success. There are many different rules and regulations that one must learn to protect their investments. It also involves looking into the company entities, taking control, taxation, and of course taking accountability issues into consideration. It is important for the business to be able to protect itself. Before Lou and Jose open a sports bar a lot of work will have to take place and money which they do not have much of so they asked Miriam for help. All three will enter into an organization agreement. A partnership is “an association of two or more persons to carry on as co-owners of a business for profits” (Cheeseman, 2010). Lou and Jose will have main control because Miriam is only investing money for a profit. There will be liability issues in this business and all three will have something to lose. Since Lou and Jose have main control they will have the most to lose. Before the sports bar can open Lou and Jose will need to get a liquor license and a license to sell food on the premises. The health department has a set of rules and requirements that must be met and the license must be in clear view for all to see. They would have to attend classes for alcohol management and food handling. When they hire some employees they also will have to attend those classes. Lou and Jose can hire security to protect their customers and to make sure they do not sell alcohol to underage people. Mei-Lin works a hiring manager for a construction corporation called Surebuild, Inc. A jackhammer operator position was advertised and the position’s description states that the individual applying


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