a Anosha Shabbir 9 éve
759
Types of Business
Various business structures each present unique advantages and challenges. Corporations are separate legal entities with shareholders and personal asset protection but require complex setup and administration.
Megnyitás
Types of Business Franchise - an authorization granted by a government or company to an individual or group enabling them to carry out specified commercial activities - Expensive - Most of the business steps have been laid out Co-operative - A group of people who get together - Complicated
- Not popular - Limited liability Corporation - Loyal entity - Very complicated to set up
- Income tax
- Expensive to set up and administer Subtopic
- Shareholders don't lose when the company does
- Owners keep personal assets
- Board of Director to enlarge company Partnership - Two or more people
- Partnership roles/Responsibilities outlined in contract - Can both be sued - Easy to set up
- Debt is shared Sole Proprietorship - One owner
- No distinction between the owner and the person - All debts to the owner
- Personal liability - Pretty easy to set up
- He/she will have unlimited liability for all debts of the business
- All profits to the owner
- Income taxes are low
