Forms of Buniness

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

time-consuming subject to double taxation^

Examples

Sole proprietorships.Limited liability companies

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

what it is

Co-operatives are community-focused businesses that balance people, planet and profit.

Advantages

Easier Sources of FinancingCooperative Economy

Disadvantages

No Quick Response to Market ChangeDifficulty Finding Additional Needed Funding

Examples

Do it Best.Dairy Farmers of America

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