Question

Juanita wants to grow her business. Which options does she have? Choose three correct answers.
Responses

Juanita could take on a partner, become a partnership, and begin hiring other staff members to take on more translating work.
Juanita could take on a partner, become a partnership, and begin hiring other staff members to take on more translating work.

Juanita could remain a sole proprietor and incorporate her company.
Juanita could remain a sole proprietor and incorporate her company.

Juanita could incorporate and try to find investors to help her grow her business.
Juanita could incorporate and try to find investors to help her grow her business.

Juanita could buy an existing franchise and change its product to fit her translation skills.
Juanita could buy an existing franchise and change its product to fit her translation skills.

Juanita could remain a sole proprietor and begin a web-based magazine.
Juanita could remain a sole proprietor and begin a web-based magazine.
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Assignment


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Answer 1

Correct choices:

- Juanita could take on a partner, become a partnership, and begin hiring other staff members to take on more translating work. (Partnership + hiring scales capacity.)
- Juanita could incorporate and try to find investors to help her grow her business. (Incorporation makes it easier to raise outside capital.)
- Juanita could remain a sole proprietor and begin a web-based magazine. (She can expand offerings as a sole proprietor to grow revenue.)

The other two are not good options: you can't both "remain a sole proprietor" and "incorporate" at the same time, and buying a franchise typically forbids changing the product/service.