Chapter 4 - Chapter 4 When starting a business, one must...

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Chapter 4 When starting a business, one must identity as to what type of business they are starting. This is not meant by what service they are going to provide or what goods they will manufacture of sold. This is meant as to how they are going to run the business. In this chapter three types of businesses were mainly discussed. These businesses that are being discussed are sole proprietorships, partnerships, and corporations. Sole proprietorships have advantages that include easy forming and are relatively inexpensive. One can just gather the goods he needs so start and that is all. With opening a business all to their selves they are guaranteed all the profit that is made also, and every decision that has to be made can be made without other opinions. The disadvantages to sole proprietorships are also there. If the business does not do well, no profit is made and all of the loss falls on only one person. And if the person becomes to far in debt his or her personal property such as car or home are all fair game to be used to take care of debt. A less popular business is that of a partnership.
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This note was uploaded on 04/08/2008 for the course BUS 101 taught by Professor Hebbard during the Spring '08 term at Bloomsburg.

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Chapter 4 - Chapter 4 When starting a business, one must...

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