Forms of business

definition

one person controlling a whole business

Advantages

Running your own business could make you more money

You learn a lot running your own business

disadvantages

you need lots of money and financial support to start your own business

Have no one to help if you are by yourself

examples

landscapers

tutors

definition

A corporation is a legal entity that exists independently of its shareholders in terms of the law.

advantages

a corporation is separate from legal entity

you got lower tax rates

disadvantages

higher cost for the business

double Taxations

examples

Amazon

Walmart

Apple

Definition

business owned by member owners

advantages

lower cost

equal voting rights

Fixed pricing

high interest

examples

retail supply

utilities

definition

two or more people start a business

advantages

more people two start and run your business

your partner got your back when you are in situation and can run your business

disadvantages

you have to slip the money witch means less more for you

emotional conflict

Examples

law firms

real estate

definition

a method of distributing products or services with a franchisor

advantages

everyone already know about your brand

You get lots of assistance

disadvantages

higher cost

almost to none Independence

examples

McDonalds

Subways