TYPES OF BUSINESSES



TYPES OF BUSINESSES

CIVICS AND ECONOMICS

Sager

What are the various ways to structure a business?

| |SOLE PROPRIERSHIP |PARTNERSHIP |CORPORATION |

|DEFINITION-How is the business | | | |

|organized? | | | |

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|ADVANTAGES to the type of | | | |

|business | | | |

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|DISADVANTAGES to the type of | | | |

|business | | | |

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|TERMS TO UNDERSTAND |Unlimited Liability: |Unlimited Liability: |Limited Liability: |

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| | | |Charter: |

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| |Financial Capital: |Articles of Partnership: | |

| | | |Stock: |

Video Clip:

1. Why do corporations sell stock? Why would a person invest in the stock market?

2. What are the 2 ways to make money from stock? Be sure to EXPLAIN each.

3. As an investor, what are some issues you should consider before buying/investing in stock?

Making a Business Plan: Working on your own you will start your own business. In order to do so, there are many things you must consider. Use the links on my website and from your own research to create a list of actions you would need to take to start a business. Remember if you are in a partnership you must consult your partners/board of directors before making any decisions. Some of the decisions you are forced to make will be guided by the structure of business you are assigned.

Your assignment is to create a business plan to develop your business. Think beyond money and supplies, there are many things that would go into making a business, make sure you incorporate them into you plan. Your business plan must include the following elements:

• Name of Your Company – make this the title of your business plan

• Company description - describes what you do. (one paragraph)

• Market analysis - research on your industry, market, and competitors. (one paragraph)

• Organization and management - your business and management structure. (one paragraph)

• Service or product - the products or services you’re offering. (one paragraph)

• Marketing and sales - how you’ll market your business and your sales strategy. (one paragraph)

• Funding request - how much money you’ll need for next 3 to 5 years and what you needs the funds for (one paragraph)

Find a business plan template online to present your information – any information you obtain from research must cite the website

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