number of advantages and disadvantages that must be considered‚ whether in a sole proprietorship or corporation. The purpose of this short essay is to identify several types of business structures and list the pros and cons of each. Sole Proprietorship is a company owned and sometimes operated by a single individual. These company types can range from small “mom and pop” retail stores to inventors seeking to sell their products online. The pros of this business structure are that as the owner you have
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different types of business structures such as sole proprietorship‚ partnership and corporation. This week you will see a brief explanation of each as well as advantages and disadvantage of each of the business structures. Personal Business Structure Sole proprietorships are the simplest of all legal structures but they also lack many of the legal and financial protections of other business. The advantages of a sole proprietor are that owners not pay any taxes that are separate from the company‚ the
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forms: + Limited liability company with more than one member + Sole member limited company + Shareholding company + Partnership + Sole proprietorship + State – owned enterprise + Cooperative + Foreign invested company _ Based on liability + Unlimited liability companies ( Sole proprietorship and Partnership ) + Limited companies: limited liability‚ shareholding companies‚ state-owned enterprise‚ cooperatives‚ joint-rentures and percent foreign invested companies _ Based on legal person status:
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(2002)‚ an advantage of having a sole proprietorship form of ownership is “an owner of this type of business gets to keep all profits derived from the operation”. Another amenity for this form of ownership is “the owner has the authority to
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and profits are not shared by anyone. As the owner of the taco truck‚ the individual also runs the daily operations‚ cutting down on his overhead. This type of business is preferred as a sole proprietorship as the profits and operations are limited. As the sole proprietor‚ the individual gets a business license and begin operations. This type of business would want to limit their expenses or profit sharing and is best operated under the sole proprietorship. Partnership A partnership is a form
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Legal Forms of Business Mike Martin LAW/531 January 9‚ 2012 Carmina Perez-Fowler Legal Forms of Business Legal forms of business include sole proprietorship‚ partnership‚ limited liability limited partnership‚ limited liability company‚ S corporation‚ franchise‚ and corporation. Each of these legal forms offers distinct benefits to business owners and investors. The decision to incorporate one legal form as opposed to another is often determined by circumstance and underlying factors. Cheeseman
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knowledge partner of private companies Belgium > Bulgaria > Czech Republic > Germany > Hungary > Luxembourg > Poland > Slovak Republic > Belgium Essentials of Doing Business in Belgium accountancy > audit > tax > legal > corporate finance > family office > environment > accountancy > audit > tax > legal VGD is a member of www.vgd.eu - 1 - VGD‚ knowledge partner of private companies TABLE OF CONTENTS Preface VGD as your knowledge partner for doing business in Belgium VGD as a member of
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challenges. One of the most important decisions to be made to help ensure success is choosing the correct business organization. In order to choose the correct type of organization it is important to understand each type of organization along with the pros and cons for each. Sole Proprietorship The most prevalent organizational type is the sole proprietorship. Sole proprietorship is usually found among the smaller organizations. It involves one person and in many cases the person and the business
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points) 1. What is liability‚ and what does it mean to have personal liability for a company? (0.5 points) Liability is the authorized word for being alleged responsible as well as compelled to complete a commitment. If you attain a personal liability for a company‚ this means that you can be held personally responsible for your company; including financial obligation as well as illegal actions your company may perform. 2. What are taxes‚ and what is the IRS? (0.5 points) A tax is a financial
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Determining Industry The company is founded‚ it must take into consideration factors in many ways. Both sides created good and bad for the company. In the company of SCG‚ then take this into account as well‚ SCG Group‚ a leading company that is geared towards the Asean leaders. And preparation for global competitiveness SCG. The leading company in the region that operates over 100 years‚ according to the guidelines of sustainable development. Under good corporate governance. Through learning to
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