Business Ownership

Business Ownership - BUSINESS OWNERSHIP What are our...

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BUSINESS OWNERSHIP What are our options???
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ENTREPRENEURS People who recognize a business opportunity and organize, manage, and assume the risks of a business enterprise.
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Characteristics of Entrepreneurs Desire for independence Self-confidence Willingness to take risks Ability to recognize opportunity
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Advantages and Disadvantages ADVANTAGES Satisfaction of filling a need of society Full use of skills in a business of their own Profit…receive the full benefits of their own labor DISADVANTAGES Owner has full responsibility for the business Long, irregular hours (often on weekends and holidays, too) Financial risks…in startup and failure
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Organizing for Ownership The legal form of ownership that you choose to use, may make the difference between success or failure. As your business grows, changing conditions may require you to change your form of ownership. There are three types of business ownerships.
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THREE TYPES OF OWNERSHIP Sole Proprietorship Partnership Corporation Areas of involvement Responsibility Liability
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Business Ownership - BUSINESS OWNERSHIP What are our...

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