Simone, a qualified jeweller, has decided to create her own range of rings and bracelets. Her dad suggests that he renovate the garage to suit her needs ,and he gives her some start-up capital to buy the necessary equipment. Q.1.4 Assume for this question that Simone is still uncertain regarding the best enterprise she should use for her business. She has heard that an existing close corporation can still be purchased from a shelf company. Provide her with five reasons that close corporation would be a good option. In your answer, discuss the characteristics of a close corporation. Q.1.5 Simone wants to know about a business trust as a possible vehicle for running her business. Discuss the various parties to a trust and explain in particular Simone’s role.

Simone, a qualified jeweller, has decided to create her own range of rings and bracelets. Her dad suggests that he renovate the garage to suit her needs ,and he gives her some start-up capital to buy the necessary equipment. Q.1.4 Assume for this question that Simone is still uncertain regarding the best enterprise she should use for her business. She has heard that an existing close corporation can still be purchased from a shelf company. Provide her with five reasons that close corporation would be a good option. In your answer, discuss the characteristics of a close corporation. Q.1.5 Simone wants to know about a business trust as a possible vehicle for running her business. Discuss the various parties to a trust and explain in particular Simone’s role.