Weebly
Forms of Business OwnershipSole ProprietorshipPartnershipCorporationCo-operativeFranchiseFeaturesOne ownerTwo or more people in business together1 Share = 1 vote (more shares you have the more say you have in the business decisions)Group of people working together as a companyOwned by its members1 vote no matter how many shares you ownMultiple business in different locationsIndividually ownedAdvantagesReceive all profitsMake all the decisionsSuccess based on your own actionsSplit the expensesSplit the workSpecialize in different areasSharing ideasBenefits (work there)More structure, more specializationEasier Growth (become international)Limited LiabilityLimited liabilityHelps the community growShare ideas, people listenAll the supplies and equipment given to you(turn key)In some you keep all of your profitAdvertised locally & nationallyDisadvantagesDo all the work yourselfUnlimited liability (creditors can take your personal belongings)No one to rely on- all youSharing ideas/ arguing (not agree on the same ideas)Unlimited liabilitiesShare the profitExpensive to set upTax on profitsOpinion doesn’t matter1 vote no matter how many sharesDon’t get much of a say Unlimited liabilityPay royalties (use their name) ................
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