Using what you learned about the form of ownership, list three (3) advantages
AND three (3) disadvantages. explain
why this form of ownership is right for you between
100-150 words. List at least one reference
Three advantages of ownership are: 1. You are your own boss 2. Rewards. 3. Profit is not distributed to stockholders.
1. As you are the owner you make your decisions . No one can order you to do a task or force you to take a responsibility.
2. The harder you work, it is more likely that you make more profit.
3. All the profit your company makes is yours to keep. You do not share this profit with any body such as stockholders or anyone else.
Three disadvantages are: A. Starting a business is hard work. B. Financial risk is involved C. Income is sporadic
A. When you start your own business, I the beginning you have put in long hours of work. This requires hard work.
B. If the company does not work the way you had planned, you may lose money. This is the risk involved.
C. Income is not steady. Owning a business does not provide you a steady income every week as is the case with an employment. Sometimes you may have low income so you have to have back up source to withstand this situation.
Please note that resources are easily available on internet. Go under business - advantages and disadvantages and select one.