Aug 22, 2009

Excerpts Saturday: A Corporation?

What do you think about business corporations? Is it advisable or not?

I have been offered by one of my acquaintance about going for a corporate set up rather than a single proprietorship, will this be advantageous to my business or will just be a burden. I rather have basic knowledge pertaining to this matter that's why I've been anxious of the whereabouts of this offer.

Basically, the proposal was for expansion, an add on source of funds, a broad source of money for operation and maintenance but in return to that, axing a part of my sole income and maybe a difficult and rigor tasks of auditing among others. Will I need expansion or an add source of fund with the current economic condition and business location? My business is in lieu with healthcare and basically tedious in a way that it solely depend on the service that I provide, the service providers that I hire and the health insurance companies. My problem was the location, I think it not ready for a bigger healthcare institute but in the other hand, if I could improve the my facility, I could lure other patients from other places, but that would be a big risk.

Service providers is very much a big contributor rather specially now that most of them opted to worked outside the country than stay here. Additional service would mean additional employees and I might not be able to cope up with the minimum number of service providers to keep the institute from running.

Will I go for it?


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