Eli’s Mind

The foundation that one picks for their business is the form of structure basing how it is managed and supervised. The company which was mentioned in the previous assignment, Kelsey’s and Eli’s Candles, is a teen managed firm which is currently operating on a partnership. This works the best because we both take half of the work on ourselves. A partnership involves two or more people who combine resources for the business and share profits and losses. This shows it will be easier to cope with and more manageability of one’s personal time for other activities and requirements. Secondly this applies to a teenagers conditions because of the inability to pay taxes and manage multiple payments which is what higher forms of business foundation require such as a LLC, or C. corp. In the end for a teenager’s personal business, it is preferred to run solely with a partnership as a base and foundation.