What is it?
The sole proprietorship is the simplest and most popular form of ownership. This form of business ownership is designed for a business owned and managed by one individual.
Advantages
Less paperwork to get started.Easier processes and fewer requirements for business taxes.
Disadvantages
Unlimited personal liability.Higher tax burden.
Examples
Bakers Chef
What it is?
An unincorporated business structure with two or more parties form and own together parts of the company that is called a partnership
Advantages
A potential to gain wider access to knowledge and expertise from partners.Infusion of capital is easier than other business structures^
Disadvantage
Disagreement Losing a partner
Examples
Deloitte,PwC
What is it ?
A corporation is a business that is owned by its shareholders.
Advantages^
personal liability protection, business security
Disadvantages
what it is
A franchise is a type of license that grants a franchisee access to a franchisor's proprietary business knowledge, processes, and trademarks, then allowing the franchisee to sell a product or service under the company business name. In exchange for acquiring a franchise, the franchisee usually pays the franchisor an initial start-up fee and annual fee.
Advantages
A Proven System Help Getting Started
Disadvantages
Limited Control and costs
Examples
Mcdonalds KFC
buys and then resells goods to constumers
Manufacturing creates and builds their own product then sells it to costumers
E-commerce an online store that sells goods to costumers
Non-profit organizations dont work for a profit
Add text
sells services to costumers for peofit