ASSESSMENT TASK NO 2 (ESSAY – BUSINESS STRUCTURES) Word Length: 500-700 words Task Weight: 15%. Date Due: End of Week 5 Task Requirements: The ‘Case Scenario’ on the topic of ‘Business Structures’ Assignment Topic - Case Scenario (Business Structures) Wei Wei and William have decided to go into ‘Hospitality and Tourism’ business together. They will be focusing on providing budget travel and accommodation packages to International Students travelling and holidaying in Australia to a wide range of popular tourist locations. They currently have around $100,000 in assets and intend to take out a loan of $200,000 from the Bank, to help establish their business. Their projected income for the first twelve months is around $100,000 but they expect that if they are able to offer high quality and reliable services, their business should be able to grow quicker than that. They are planning to attract investors to become part owners of their ‘Hospitality and Tourism’ business. Before commencing, Wei Wei and William seek your advice as to the advantages and disadvantages of entering into different types of business.
PROVIDE ANSWERS TO THE FOLLOWING TWO QUESTIONS Question One: Provide detailed advice and recommendations to Wei Wei and William as to the most suitable business structure for their new ‘Hospitality and Tourism’ business. Question Two: Explain the process and requirements that ‘Hospitality and Tourism’ business will have to follow in order to register the most suitable business structure for their new ‘Hospitality and Tourism’ business. Additional Comment: Students are required to ‘go beyond’ the Prescribed Textbook and to use additional Library resources to support your answers. Use of Resources You are required to use a range of legal resources in addition to the textbooks including at least two (2) textbooks and four (4) Online Legal Resources; as supporting evidence for the arguments, analysis and discussion of the two Assignment questions. CRITERIA USED TO GRADE THIS TASK See Separate Marking Guide for detailed marking criteria and allocation SUBMISSION DETAILS Submissions must be uploaded online via the Turnitin Drop Box FEEDBACK AND RETURN OF WORK Feedback and marks will be provided via the LMS within two weeks of submission