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Business Organizations

Business Organizations. Types of Organizations. Sole Proprietorship. Advantages. Disadvantages. Be your own boss Keep all the profits Less paperwork Low regulation. Limited access to money Full liability Time Lack permanence . Partnership. Advantages. Disadvantages. Easy to start

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Business Organizations

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  1. Business Organizations

  2. Types of Organizations

  3. Sole Proprietorship Advantages Disadvantages • Be your own boss • Keep all the profits • Less paperwork • Low regulation • Limited access to money • Full liability • Time • Lack permanence

  4. Partnership Advantages Disadvantages • Easy to start • Specialized skills • Tax incentives • Fringe benefits • Potential for conflict • Limited Liability • General Partnership

  5. Corporation Advantages Disadvantages • Legal liability • Buy/ad power • Expertise • Capital • Stock • Lose control • Regulation • Scope • Competition

  6. Franchise advantages disadvantages • Training • Product • Ads • Loans • Royalties • Restrictions • Products

  7. Other Organizations • Nonprofit – functions like a business for benefit of society not to make profits • Cooperative – collection of business persons for their mutual benefit

  8. Summary Questions • Based on information about the business organizations, which would fit your personality and career choice the best? EXPLAIN.

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