1You and your friends are about setting up a business in Melbourne. Please write a group assignment...

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1You and your friends are about setting up a business in Melbourne.  Please write a group assignment and find out which business structure is the best model for your venture.  You just graduated from BHI with a degree of Bachelor of Commerce.  You intend to start a business in Melbourne.  You have borrowed $200,000 from your parents and agreed to pay back the amount once your business makes profit. You met Frank, who is a computer expert.  Frank has worked for an IT company in Melbourne for 7 years.  He wants to use his IT skills and knowledge to join your business.  David graduated three years ago from BHI and worked in the marketing division of a Five-Star hotel in Melbourne.  He has decided to quit the hotel job and join you and Frank with his marketing experience. You, Frank and David have decided to start an IT service business in Melbourne to provide web designs and online systems for many small businesses who want to start their online sales.  You have found a cheaper office space near the Victoria Market for $48,000 pa for 3 years with a 3 year option if you sign the lease immediately.  Frank and David have no capital contributions, but they have good skills and experiences.  You have the capital of $200,000, but you do not have business experience in Australia.      You three want to start the business immediately.  The question is: which business structure you intend to choose for the purpose of setting up an IT service business? Please write and discuss which business structure is the most suitable model for your intended IT service business.  Compare and contrast three types of business structures by analysing their main features, purposes and basic requirements.  Please also discuss the advantages and disadvantages of your chosen business structure.  Please support your arguments with relevant materials including legislation or case law.  You should use the legal system of referencing according to the Australian Guide to Legal Citation (AGLC), available online from BHI’s Library.  You can also access the AGLC on the StudentWeb under this subject. · Discuss 3 different types of business structures, and the relevant considerations that must be taken into account.  1

Neha · Accepted Answer

Discussion on IT Business Model
Table of Contents
Discussion on the business type	3
Alternative business plans	3
Data driven and innovative business policy	4
References	5
Discussion on the business type
The business plan that has been prescribed in here is a partnership business policy where three different individuals with different skills have collaborated for establishing a partnership business that would help all of them in making profit. In that way, it can be said that it is a partner-centric business where different shareholders of the business plan are involved in the policy and it works like networking with one sector to another. From partnering with sourcing and creating all-demand services, the individuals can create an innovative medium or small business that can be helpful for them (Richter et al. 2017). Therefore, with an IT expert, a person for marketing design and web design can create a small IT firm in Melbourne that would create good networking and partnership business for the benefit of all the members of the business.
Alternative business plans
Apart from the business in partnership, it is very important for the business to involve the customers in the business plan as it would help the customers to understand about the business policies.

You and your friends are about setting up a business in Melbourne. Please write a group assignment and find out which business structure is the best model for your venture. You just graduated from BHI...

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