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Chris Taverne – he is 35 and is a retired Ice Skating Champion. He lives at 34, Skater Way, Summerton which is a house worth £350000. He does not have any shares or other interests in business, but has experience as a Coach and trainer in Ice skating, working with the local Skating clubs and acts as a judge at Competition.

Jane Shelton, is 34 and like Chris is a retired Ice Skating champion, she partnered Chris at the last 3 Olympic Games. She lives at 12, Medal Way, Winterton Vale in a house worth £425,000. She is also a costume designer for Ice Skating professional groups, she has a training qualification , but does not have any experience outside competitive Ice skating.

Whilst they were partners in Ice Skating, Chris is not confident that Jane understand business needs and expectations and according to Chris she spends money very freely. He has no problem working with her or indeed going into business with her but does not want to put his house at risk. Neither of your clients has any significant savings, but their reputations for honesty and integrity is important for them to keep in tact. Jane has also confided in you that she is not sure how long she wants to remain in the business and so is not keen to make this a long term commitment.

Taking into account the information that you have in relation to your clients, which focuses on the potential different types of business model which may be appropriate to your clients, summarise which of the Business below best suites them?

Task
You are required to research the different types of business models that may be available to your clients, this includes the following :

Partnerships
Limited Liability Partnership
Private Limited Company – by Shares
Private Limited Company – by Guarantee
Public Limited Company
When you are working through each of these, you need to consider the advice that you will give to your clients,

What type of Business is appropriate for them
What are the risks of each type of business
How are the businesses formed ?
What are the costs ?
Please only use reference books from 2020 to date.

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