Please respond to the following:

• Compare the advantages and disadvantages of purchasing an existing business AND compare the advantages and disadvantages of starting a business from scratch. Which do you think you would choose: purchase an existing business or start from scratch?
• Two friends are considering launching a small company, which they believe has the potential to grow into a large firm in the future. List three important factors they should take into consideration when selecting a form of ownership. Next, recommend one form of ownership you believe will best serve the organization now and in the future. Justify your response.