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Notes from Guest Speaker

Notes from Guest Speaker. SBA. The Small Business Administration ( SBA ) is a United States government agency that provides support to entrepreneurs and small businesses. Business Broker. Acts as an intermediary between sellers and buyers of small businesses. Asset Purchase.

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Notes from Guest Speaker

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Presentation Transcript

  1. Notes from Guest Speaker

  2. SBA • The Small Business Administration (SBA) is a United States government agency that provides support to entrepreneurs and small businesses.

  3. Business Broker • Acts as an intermediary between sellers and buyers of small businesses.

  4. Asset Purchase • An asset purchase involves the purchase of the selling company's assets -- including facilities, vehicles, equipment, and stock or inventory.  (You now own what the company owned before)

  5. Stock Purchase • A stock purchase involves the purchase of the selling company's stock only. (You now own the company)

  6. LLC • Limited Liability Company – set up this way to limit the personal liability of a company’s owners.

  7. Types of Corporations • C-Corporation – This is the typical corporation as we have discussed in class. Stock is sold and you have limited liability and double taxation. • S-Corporation – This is a type of corporation that passes the tax liability on to its shareholders to eliminate double taxation.

  8. Private Sector vs Public Sector • Private Sector includes economic activity run by individuals and companies which are not part of the government. • Public Sector is the economic activity run by the government. (Department of Motor Vehicles, School Systems, etc.)

  9. Business Plan • A business plan is a formal statement of a set of business goals, and the plan for reaching those goals. Important part of any new business, but essential to receive funding.

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