Respond to Andrew H
I do conquer and as well disagree with some issues pertaining to Betty as raised by my colleague. People do business with an agenda of getting profits and not just for the sake of passing time (Bishop, 2009). Therefore, in this case, I do concur that Betty must have clear objectives or goals that she wants to achieve after setting up the business.
It is true that, she also must put into consideration various aspects concerning the type of business she wants to open because, the requirements and the logistics do vary. Forming a single member liability company has some benefits and Betty is free to set up the business. It is true that, this kind of business does not require any of her family members to be liable for any liabilities and the profits that she accrues are solely hers. I however do not agree with the response that Betty should not get financial support from her husband. When beginning a business, there are various sources of capital and this is one of the sources. If the husband is wiling to support her without any strings attached, it is a suitable source of her income. Because Betty wants to be her own boss and own the company solely, she can employ Erma to be one of her employees. I do not find any problem with this, because she is the boss and if she has the required capital to begin the venture, she is at will to make such a decision. The name of a business is very important and it contributes to the success of any venture. Betty therefore should use a name that will leave a lasting impression to customers and create a brand.
Reference
Bishop, C. G. (2009). Through the looking glass: status liability and the single member and series LLC perspective. Suffolk University Law Review, 42(3), 459-492
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