Owning a Small Business Essay
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1 . Sole proprietorship – Provide an example of a sole proprietorship in your town or community. What might be some advantages to owning this business? Precisely what are some of the biggest challenges the owner probably faces? •Subway is the business that is a single proprietorship within my town.
The huge benefits of owning this organization would be My spouse and i is a low cost to start the business up and it is continually placed the number one Business. The owner likely faces running low on the leading they use to help make the sandwiches with or not having enough cash for the bread. 2 . Partnership – Provide an sort of a collaboration in your town or perhaps community.
Exactly what are the advantages to the form of business organization? What might be a lot of challenges penalized a partner in a partnership? •Keller Williams may be the business that is the partnership that is in my community. The advantages of owning a real-estate business just like Keller Williams would be the business could be one of the largest real estate franchise corporations in the United States. The business will also keep growing with the even more houses you sell and rent to people.
The company also provides specific agents in luxury homes and commercial real estate properties. A few challenges could possibly be that your lover isn’t a great partner and hides points from you or perhaps that they just want to do things by themselves and damage the business that you guys individual together. 3. Corporation – Provide an sort of a corporation. Exactly what the advantages and disadvantages of this type of business? How can the challenges compare to the ones from sole proprietorships and partnerships? •Summit Hill is the organization that is found in the town that I live in.
The huge benefits of having a business such as this is that you can live in the snow therefore you get the snowboard ski and mountain cycle for free. In addition, you get the most gorgeous views in Big Bear. You also find the chance to fulfill all kinds of people from all around the world.
All the says and different cultures. The advantages of owning a business like this is that you obtain offered self-employment tax personal savings have a consistent life, limited liability, more cash for investment and it also makes raising funds easier. The disadvantages are extensive paperwork, double taxation, two tax returns, the size of the business enterprise, possible discord with stockholders and board of directors.