not made overnight, but by having the dreams of becoming a successful entrepreneur by watching those who owned the clubs that I had previously worked. I did not have all of the funds necessary to go into business alone so; I teamed up with another individual that I worked with, and we created a business plan, and now we are in a partnership. Throughout this paper, I will discuss the following business structures: sole proprietorship, LLC, a corporation, and partnership as well as give an analysis of
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expenses on their individual tax returns. | Two Advantages | Some of the advantages of starting a sole proprietor type business are: the ease of start-up and the cost effectiveness. There are also savings from tax filing, as it can all be done in one simple form. The proprietor can hire employees and get the tax breaks associated with said job creations and the owner not only has, but can transfer full control of the business whenever he/she sees fit to do so. | Two Disadvantages | Some of the more
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hundreds of employees. In this report I am going to discuss and research the different forms of business ownerships and the legal requirements that are required. I will be talking about what each type of owner ship in tales and what the advantages and disadvantages of each are. The main types of ownerships are: * Sole trader * Partnership * Private Limited Company * Public Limited Company * Franchise * Working Co-operative I am going to research the different types of
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but that they would rather obtain therapy by accessing the Internet and utilizing online therapy. With modern technology it makes it much easier to access different forms of online therapy. Online therapy has increased in recent years. Many individuals are looking for assistance from a therapist and have found that with online therapy they can do it from the convenience of their own home. A client takes into consideration the cost of the online therapy as well as their ability to get online and
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Introduction to Franchising Franchising * Franchising is a form of business organization in which a firm that already has a SUCCESSFUL product or service (FRANCHISOR) licenses its trademark and method of doing business to another business or individual (FRANCHISEE), in exchange for a franchise fee and ongoing royalty payment * International Franchise Association (IFA): “A franchise operation is a contractual relationship between the franchisor and franchisee in which the franchisor offers
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* Abstract Organization’s most vital resource is its people. Organizations having right individuals with right skills or abilities for the right position create the difference in between organization who is being successful or who is unsuccessful. From the above concept it can be found that recruitment is an essential aspect in any organization. This research will talk about both advantages and disadvantage of internal and external methods of recruitment. The article will deeply analyze the both
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small. There are several major advantages to operating a business as a sole proprietorship, and they include the following: • Forming a sole proprietorship is easy and does not cost a lot. • No federal or state government approval is required. • The owner has the right to make all management decisions concerning the business, including those involving hiring and firing employees. • The sole proprietor owns all of the business and has the right to receive all of the business’s
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The Advantages of a codified constitution now outweigh its disadvantages In this essay I plan to go against a codified constitution as I believe that our current constitution is fine they way it stands. There are many reason for keeping a un-codified constitution. There will also be some disadvantages to it like there is to everything, but the advantages will outweigh the disadvantages. One of the reasons to keep our un-codified constitution is because our system can work well in any terms
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associated with my type of business organization. This paper will explain the advantages and disadvantages of the four business forms, the legalities, taxes, and accounting principles associated with each form, and the type of business form that suits the services provided by my business. Sole Proprietorship Sole proprietorship is the most common and simplest form of business. It is a business of one, where the individual represents the business legally and fully (Zahorsky, 2013). Setting up a
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organizations provide different advantages and disadvantages in creation cost and simplicity, ongoing maintenance requirements, dissolution and continuity, fundraising, managerial control, public ownership, tax planning, and limited liability.” The nature of the business being conducted has little to do with the way the business is organized. (Johnson, 2013) Sole Proprietorship: The basic concept of sole proprietorship is that there is no distinction between the individual business owner and the business
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