Businesses

Partnerships

advantages
-cheap to set up and
organize
- share debt and
vacation easier

disadvantages
- unlimited liability
- Conflicts between
partners that can not
be worked out

business which is owned and run by its members, who share profits

advantages
- shared skills and
experience
- Less risk than sole
proprietor & partnership

disadvantages
- decision making
difficult because lots of
members
-Individual members may
hesitant to invest more

advantages
- instant recognition
- Established customer
base

disadvantages
- very expensive
-lack of decision making

disadvantages
- unlimited liability
- huge time commitment

advantages
- keep all the profits
- you're your own boss

disadvantages
- more complicated and
expensive to setup
- must be registered in
every province it runs

advantages
- The tax rate is lower
than sole proprietorship
- ownership is easily
transferable

Kopp C.M. (2024, June 27) Partnership: Definition, How It Works, Taxation, and Types, investopedia, https://www.investopedia.com/terms/p/partnership.asp

Hayes A. (2024, june 30) What Is a Franchise, and How Does It Work?, investopedia https://www.investopedia.com/terms/f/franchise.asp

Joannes deli writing staff. (2025, February 7) joanne's deli, joannes deli https://joannesdeli.com/

Blakes writing staff, ( 2025, February 7) LexMundi, Blake, Cassels & Graydon LLP, https://www.lexmundi.com/firms/blake-cassels-graydon-llp/toronto/

gadson.R (2024, February 29) state farm, State Farm® Announces 2023 Financial Results, https://newsroom.statefarm.com/2023-financial-results/

logo my way writing staff (2025, february 7) logomyway, McDonald’s Logo and Its History, https://blog.logomyway.com/mcdonalds-logo-history/