Question

The Government of Quebec has a strategic initiative to increase the number of small businesses (1 to 99 employees) exponentially over the next year. As a result of recent legislation, the province can offer short-term tax incentives to help businesses get started.

Because of a recent study, the province has identified a few key sectors that it would like to attract agriculture, consulting, and social service organizations. The province has set up specific spokespeople in larger cities to address questions related to setting up a business.

QUESTION 1

Thinking of the sectors noted above, which business types should the province emphasize to potential business owners?

QUESTION 2

Why would these business types be the best options for the province’s target sectors?

Answer 1

1) Partnership business will be best options to potential business owners. One can also go for proprietorship types of business.

2) These business have its own advantages and drawbacks. For partnerships, local support and partners will be available to establish a well renowned business model. Many times , legal and attitudal differences may cause loss to the firm. In agricultural and similar business, propriety business model will be more useful due to fact that individual hardwork will provide more growth and revenues.