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
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PROPRIETORSHIP: This business entity is the most common business used in the United States. This entity is owned and ran by one individual where there is no legal distinction between the owner and the business. This legal name of the business is the owner’s name; however, the business may operate under a fictitious name by filing a DBA. This person is legally accountable for all elements of the business including finances, loans and debts. One of the advantages of doing business as a Sole Proprietorship
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Small-Business Idea Paper There are plenty of ideas for a possible small business, but one must look past just the idea or hopes of opening a small business and think about the legal, tax, accounting, and other items that need to be addressed in establishing a small business. One of the first things to consider is, as what type of entity the company will be chartered or established, and what rules apply for the state in which the company is located. For the purposes of this paper, the potential
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Small-Business Idea Vanessa Singleton ACC/561 May 20, 2013 Aaron Strenkoski Small-Business Idea Due to the government releasing funds to establish small businesses, my vision of owning a spa becomes a reality. Starting a new business is challenging, a potential business owner should develop a well thought out business plan to set their venture into action. As a business owner, I have to take into consideration which of the four forms of business organizations best suit my services. I must
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forms Legal Forms of Business Paper Yaciel Toledo Law/531 June 3rd, 2011 University of Phoenix Legal Forms of Business Paper Selecting the best form of operating a business depends on the type of business the owner wants to run. The owners have to pick the structure that best meets their needs. “The selection depends on many factors, including the ease and cost of formation, the capital requirements of the business, the flexibility of management decisions, government restrictions
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most common ways to organize a business: Sole Proprietorship Partnership Limited partnership Limited Liability Company (LLC) Corporation (for-profit) Nonprofit Corporation (not-for-profit) Cooperative. Sole Proprietorships and Partnerships For many new businesses, the best initial ownership structure is either a sole proprietorship or -- if more than one owner is involved -- a partnership. Sole Proprietorships A sole proprietorship is a one-person business that is not registered with
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Forms of Business There are many forms of businesses, from the small business to the corporate business that are found all over the world. Each has its own unique properties, as well as some areas that are similar to all. In this paper, I will give scenarios of the following legal forms of business: sole proprietorship, limited liability partnership, Limited Liability Company, S corporation, franchise and corporate form. This paper will also discuss the justification as to why this business form
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decided to open a kiosk business in my estate selling potatoes. I therefore have to decide under what legal form to register my business after a careful consideration of the different pros and cons and finally identify what would make up the supply chain of my business. Background information There are a range of legal structures associated with different forms of business: 1. Sole trader businesses are the easiest to set up because there is no complex paperwork. The business and the owner are the
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Regulatory Agency Paper Lori Lewellen HCS 430 Throughout this paper I will discuss and explain the application as well as how the Family and Medical Leave Act, which is also known as FMLA is implemented, as well as Worker’s Compensation Occupation and Safety and Health Act, which is also known as OSHA. I will also discuss the regulatory laws in which are implemented by organizations to make sure that these acts are adhered to and mandated while still providing employees with a working
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In this paper we will compare and discuss different forms of business and their advantages and disadvantages. Following are the different type of business formed to conduct work: 1. Sole proprietorship. 2. Partnership. 3. Limited liability partnership. 4. Limited liability company. 5. S corporation. 6. Franchise. 7. Corporate. 1. Sole proprietorship, The sole proprietorship is a type of business entity that is owned and run by one individual. All the decisions of the business are made
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