Evette and Rhumbi have known each other from university. Evette has a degree in marketing and Rhumbi is a talented application (app) developer. They decide to work together to create a platform for struggling professionals who want to earn a living without the stress of looking for clients. They trust each other and want to start a business that is representative of their friendship. They decide not to register the business as a legal entity as this could cause delays. They were really keen to get started! They have approached you for advice on the following: Q.1.1 Provide a short note on the best business enterprise for Evette and Rhumbi with reference to the facts. Your answer should include: • the basis or founding documents for the formation of the enterprise; • a discussion of the essential elements of the enterprise; and • the statutory formalities, if any, for this type of enterprise to be formed. Q.1.2 They are aware that things don’t always pan out as intended. They would like a list of circumstances what could lead to the dissolution of this type of business enterprise. Provide any five reasons.
Evette and Rhumbi have known each other from university. Evette has a degree in marketing and
Rhumbi is a talented application (app) developer. They decide to work together to create a
platform for struggling professionals who want to earn a living without the stress of looking for
clients. They trust each other and want to start a business that is representative of their
friendship. They decide not to register the business as a legal entity as this could cause delays.
They were really keen to get started!
They have approached you for advice on the following:
Q.1.1 Provide a short note on the best business enterprise for Evette and Rhumbi with
reference to the facts. Your answer should include:
• the basis or founding documents for the formation of the enterprise;
• a discussion of the essential elements of the enterprise; and
• the statutory formalities, if any, for this type of enterprise to be formed.
Q.1.2 They are aware that things don’t always pan out as intended. They would like a list
of circumstances what could lead to the dissolution of this type of business
enterprise. Provide any five reasons.
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