Description
One of the first steps in making entrepreneurial business opportunities a reality is deciding what form the business will take.
Write a 525- to 700-word paper on the various forms of business organization.
Define each of the following forms and address the advantages and disadvantages of each:
- Sole proprietorships
- Partnerships
- Corporations
- Limited liability companies
Answer the following question and explain your answer:
- What is the most appropriate form of ownership for an aggressive entrepreneurial firm?
Cite 3 peer-reviewed, scholarly, or similar references to support your paper.
Format your assignment according to APA guidelines.
Click the Assignment Files tab to submit your assignment.
Explanation & Answer
Attached.
Business Organization - Outline
Thesis statement: Some types of businesses are not eligible to structure themselves as a limited
liability company.
1. Sole proprietorships
2. Partnerships
3. Limited liability companies
4. Corporations
Running head: BUSINESS ORGANIZATION
Business Organization
Name
Institution
1
BUSINESS ORGANIZATION
2
Business Organization
Sole Proprietorship
It is a straightforward and popular form of business in the world where an individual
owns, operates the business and manages all its operations. The person is responsible for all
debts and expenses incurred by the venture.
Advantages of a Sole Proprietorship
• The owner is in charge of all the operations including the decision-making duties in the
business.
• Product sale or transfer of cash can only be authorized by the proprietor.
•
Sole proprietorship is the only form of activity that is not required to pay corporate tax
• When forming a Sole proprietorship, the owner is only required to meet the licensing
requirements in the states where the business will be located and the local regulations.
Disadvantages of a Sole Proprietorship
•
Poten...