Jen and Elizabeth are red-seal hair stylists and want to start a hair salon, where they will offer haircuts, hair colour and styling. Jen is in her 40’s, married, and has owned at least one other business before. She owns her own home, and has other accumulated assets from 20 years in her working career. Elizabeth is in her 20’s, single, and is a first-time business owner. The business start-up costs will be financed from a loan with a local small business bank. They have approached you to discuss what you recommend as a business form. Discuss the pros and cons of the available forms of business organization and come to a recommendation based on the case facts