Which business structure do you recommend as the most suitable business structure in the following situations? Give reasons in support of your answer.

a) Jay is engaged in a business with two others. Annual turnover of the business the past two financial years has been over $4m. Jay finds their business is paying too much tax. Jay needs more capital to expand their business but is afraid bank may not lend them expected amount due to stricter lending regulation since the Banking Royal Commission Report published in February 2019. (5 marks)