7.1 The ownership structure section describes the legal structure of your business
One of the first decisions that have to make as a business owner is how the company should be structured. Choosing the wrong structure could expose to unnecessary costs and risks, while failure to address certain practical issues may result in falling out with business partners or associates. Today, there are several business entity options available for entrepreneurs.
QGES is decided to choose Partnerships structure. In a Partnership, two or more people share ownership of a single business. Unlike other business formats, partnerships (and sole traders) can start trading straight away, although certain types of businesses may need a license to trade. If trading under a name other than that of the owners, must display names of owners and an address, for each, at which documents can be served. Behind sole-traders, a partnership is the second most popular type of business and is more commonly associated with professional services such as accountants, solicitors and doctors. It is also common in partnerships for each partner to specialize in a specific area of the business.
To more specific, QGES is implemented General Partnership to run this business. General Partnership is an arrangement in which two or more individuals or other persons (such as a company and an individual) conduct business as partners, whether officially or not. In terms of asset protection, general partnerships can be even worse than sole proprietorships. Anything that one partner does affect all of the partners, because each partner of the general partnership is personally responsible for all obligations of the partnership deals. Thus, each general partner's exposure to risk is increased by a factor equal to the number of general partners in the business7.2 The internal management team section will describe the main business management categories relevant to your business, identify who’s going to have responsibility for that category and profile that person’s skills
7.3 Consider how your business’ human resources needs can be best be met. Will it be best for your business to have employees or should you operate with contract workers of freelancers? Do you need full-time of part-time staff? 7.4 Calculate the number of employees you will need by figuring out how many customers each employee can serve
Estimated number of employee
7.5 Determine how much salary each employee will receive and total cost of salary for all your employeesTotal cost of salaries for all employee :-