Business in Action 8th Edition by Courtland Bovee,John Thill

Exercise 13

Suppose you and some friends want to start a business to take tourists on wilderness backpacking expeditions. None of you has much extra money, so you plan to start small. However, if you are successful, you would like to expand into other types of outdoor tours and perhaps even open branches in other locations. What form of ownership should your new enterprise take, and why?