Keith is an up-and-coming entrepreneur who wants to use his unique fabric-crafting skills to make a profit by creating an online shop. He views his business as being low risk with minimal startup costs. Based on these factors, what form of business would best suit Keith’s startup company?

(1 point)
Responses

sole proprietorship

sole proprietorship

partnership

partnership

corporation

corporation

limited liability company

1 answer

Based on the factors provided—low risk, minimal startup costs, and Keith wanting to use his unique skills to create an online shop—the best form of business for Keith’s startup company would be a sole proprietorship.

A sole proprietorship is the simplest and least expensive business structure to establish, and it allows the owner to have complete control over the business. Additionally, it is suitable for individuals starting small businesses with low startup costs.