A chance meeting and exciting news Essay Example | Topics and Well Written Essays - 1250 words

A chance meeting and exciting news - Essay Example A critical assessment of both options is necessary before the declaration of the decision. Primarily, the first question to address is the money issue. Is the new venture more lucrative than the current position? A critical analysis the remuneration offered here shows that for the first year, working with the partners as consultants would be more financially satisfactory. When the $50,000 is shared equally, the annual salary will be $200,000, which is $50,000 more than what Engulf and Devour are offering. However, this is only assured for the first year only. What happens in the second year if there are no clients? Regardless, comparing the $200,000 offer to the $150,000 provided by Engulf and Devour, the former seems more promising since both opportunities have various uncertainties. Taxation is a key consideration as well. With the partnership being a registered entity, the aspect of double taxation is a partner’s financial obligation. With this consideration, the payment promised by the partnership is much lower after taxation as compared what Engulf and Devour are offering. However, the partnership has a more promising financial future as compared to the job and Engulf and Devour. With the possibility of getting bigger clients, as the reputation improves, the promise of better incomes is higher in the case of the partnership as compared to the current job (Lee 109). Financial concerns are the primary concern for any aspiring entrepreneur. After the financial consideration, the next aspect to take into critical account is assessing the uncertainties of the current contract. What would happen if the contract were to be terminated before it was mature? Likewise, considering the terms of payment is equally crucial. Some clients prefer to pay after the completion of the contract, or on a monthly basis. When handling one’s own business, uncertainties are greater as compared to being employed. Assessing the