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Holly_homework_UNIT 1 - Organizing a Business

Holly_homework_UNIT 1 - Organizing a Business - Organizing...

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Organizing a Business Holly J. Soltow American Intercontinental University BUSN105-1004B-238 Introduction to Business February 17, 2012 Michael Powers
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ORGANIZING A BUSINESS 2 Abstract If you could own any business, what would you own? I know my answer; a bakery. I would make any and all kinds of baked goods including apple turnovers, pies, doughnuts, cakes, cookies, and muffins. I would have my entire family help me. My dad would make the goods, and my mom would sell them. My husband and I would handle the money. But wait! What if my parents owned a portion of my bakery as well? Would I want to give up a portion of my sole proprietorship for their help in my bakery, or would it be more beneficial for me to part of a general partnership? What if wasn’t just my family that owned a part of my bakery? Could a corporation be the way to go? Each possibility is unique and may be the right choice for me.
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ORGANIZING A BUSINESS 3 Sole Proprietorship Mmm… Can you smell the warm chocolate chip cookies coming out of the oven?
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