Compare and contrast Sole Trader and Private Limited Companies

You are required to:

1. Compare and contrast Sole Trader and Private Limited Companies. What type of business entity would you recommend a potential start up enterprise who wants to start a business as a taxi driver/chauffeur and the process to register that business? You must also justify your decision;
2. The potential business investor (above) has been to the Bank Manager to enquire about a loan to buy a new Mercedes that will act as the main vehicle in the business. The vehicle will cost 70,000 Euro. The Bank Manager has asked him/her to submit a Business Plan for the business but he has no idea what a business plan is, its purpose or what should be included in it. You must outline to him/her the contents of a business plan, its purpose, its advantages and disadvantages;
3. It is recognised that the ‘tourism’ industry in Ireland is vital to the countries economy. Conduct research and debate how important this industry is to the Irish economy. What can the Irish can the Irish government do to increase tourisms financial contribution to GDP.