Forms of Business Ownership

Mais informações

Unit 3: Financial Planning & Monitoring

por star madness

Franchise

por Walee Herabut

L02

por Waqar Syed - Rick Hansen SS (2542)

5 types of business ownership and 5 forms of business ownership

por Fahad Shafiq - Rick Hansen SS (2542)

Forms of Business Ownership

Franchise

-Follow all rules exactly -Less control

-Many connections and advertisement -Fast growth

Partnerships

-Potential separation -Disagreements in ideas

-Shared responsibility -More protection

Cooperatives

-Lots of competition -Coruption

-contribution and shared responsibility -Further marketing reach

Corporations

-Double taxation -Lots of protocols to follow

-security and continuity -Liability protection -More perspectives

Sole proprietors

disadvantages

-Risk of wrong decisions -Unlimited liability -Not as much advertisement -Less management

advantages

-Simplified ownership -Fewer registration fees -More freedom and control -Keep the profits