TYPES OF BUSINESSES - CIVICS AND ECONOMICS



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 stick 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: You and your partner want to 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 for your Company - Executive summary - a snapshot of your business.

• Company description - describes what you do.

• Market analysis - research on your industry, market, and competitors.

• Organization and management - your business and management structure.

• Service or product - the products or services you’re offering.

• Marketing and sales - how you’ll market your business and your sales strategy.

• Funding request - how much money you’ll need for next 3 to 5 years.

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

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