Jaycen Swedeen unit 1 Individual Project

Jaycen Swedeen unit 1 Individual Project - Unit 1...

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Unit 1 Individual Project Running head: Unit 1 INDIVIDUAL PROJECT BUSN105-1003A-289 BY JAYCEN SWEDEEN THEBUSINESS ENVIORNMENT WILBE ORTIZ July 23, 2011
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Unit 1 Individual Project The Business Environment Starting a business there are a lot of things that need to be considered. Being an inventor with little financial skills and no management skills can present a lot of obstacles. In a legal perspective you need to consider if you want a sole proprietorship, partnership or corporation. Sole proprietorship is a business that is solely owned and ran by one person. It is a form that is frequently used in starting a business. When starting a sole proprietorship, you need to understand that personal and business affairs are merged together. Some advantages of this are you are your own boss, any money earned is yours and they can be inexpensive to form. Public notification or legal assistance is required to start, terminate, redirect or modify the business other than routine permits and licensing. (“Sole Proprietorship,” 2011) In sole proprietorship it can be harder to get a loan for starting your business which can be a disadvantage. Also, as the proprietor, you are responsible for all financial matters so if the business doesn’t succeed you are
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Jaycen Swedeen unit 1 Individual Project - Unit 1...

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