Business Structures LaGloria Williams FIN/571 April 9, 2015 Travis Hayes Every business in the world has a structure to it. It could be a small local business like a boutique or a large corporate business like a popular bank. Having a business structure to your business is what helps determine what type of ownership takes place. There are three main business structures, they are known as; sole proprietorship, partnership, and corporations. These three business structures are important
Words: 805 - Pages: 4
Business Advice !1 Business Advice Business Advice Mr. Owner, you are off to an excellent start. It is pivotal for business owners to compare options to discover which business structure would be most suitable for their needs. Because you are undecided how to finance and whether you will have partners, I compiled a list of the advantages and disadvantages of each business structure for your review. Sole Proprietorship If you decide that you want full control of the business, a sole proprietorship
Words: 767 - Pages: 4
Forms of Business Kimberly Smith FIN231_1 February 14, 2016 Instructor McAndrew Forms of Business There are at least five different forms of business. They are proprietorship, partnership, corporation, limited liability company, and cooperative. The three major forms of business are proprietorship, partnership, and corporation. With proprietorship (also known as sole proprietorship), the business is only owned by one person. This person assumes all of the responsibility for the business
Words: 987 - Pages: 4
– the simplest form business. The business is owned and operated by one person and there is no legal distinction between the business and its owner. The owner of a sole proprietorship assumes all responsibilities, liabilities and profit of the business. • Liability- One major disadvantage of a sole proprietorship is the liability. As a sole proprietorship both the owner and business are one and the same and therefore both are subject to any unpaid debt. If the business has debt that is unpaid
Words: 2685 - Pages: 11
Business Organization Entrepreneurs should write a business plan to help bring the idea of a new business venture. There are also regulations that should be followed when starting a business. The role that regulatory requirements play in the process of entrepreneurship within the health care field is, it provides a standard, or structured frame, which offers the entrepreneur the means to operate according to the law. This paper will define sole proprietorship, partnership, corporations, and limited
Words: 699 - Pages: 3
Business Structures LaShondra Dyer BUS311: Business Law I Instructor: Peter McCann April 13, 2016 Selecting a business structure comes with a number of variables. Are you going into business alone? If so, how will you fund it and run it? Will you join forces with others to build a business? If so, what agreements need to be made, for the business to run effectively and efficiently? I have spent over a decade in the nightclub industry in various positions. I started as a waitress
Words: 2632 - Pages: 11
1. I chose the Family and Medical Leave Act of 1993. The Family and Medical Leave Act provides unpaid leave of absence for situations regarding the birth, adoption or fostering a employees child and for serious health condition for immediate family members including employee’s own health condition. The duration required to be provided is 12 weeks of unpaid leave. What the Family and Medical Leave Act does is protect your current job position and continues to provide health coverage during the absence
Words: 291 - Pages: 2
us at: nerdypupil@gmail.com ACC 291 WEEK 3 DISCUSSION QUESTION 1 Why does a company choose to form as a corporation? What are the steps required to become a corporation? What are the advantages and disadvantages of the corporate form of doing business? Home Work Hour aims to provide quality study notes and tutorials to the students of ACC 291 Week 3 Discussion Question 1 in order to ace their studies. ACC 291 WEEK 3 DISCUSSION QUESTION 1 To purchase this visit here: http://www.nerdypupil.com/product/acc-291-week-3-discussion-question-1/
Words: 583 - Pages: 3
LIT 1 Task 1 Part A: Business owners face a lot of challenges. In order to conduct their operations effectively businesses must be organized. The complex world of business is filled with the pressures of running a business, profit margins, decision-making, liability, Income tax, longevity, government regulations, control, expansion and future of the business and countless other things. In the United States businesses can be organized into one of three basic legal forms. * Sole proprietorship's
Words: 1272 - Pages: 6
Business Structure Basics With this basic guide, you'll be able to select the structure that suits your business best. VIEW COMMENTS (0) How To Business Structures Starting A Business Startup Basics 30 Days ENTREPRENEUR STAFF ENTREPRENEUR STAFF Of all the decisions you make when starting a business, probably the most important one relating to taxes is the type of legal structure you select for your company. Not only will this decision have an impact on how much you pay in taxes, but
Words: 581 - Pages: 3
