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Proprietorships are the most diverse form of business organization in the United States. However, they estimate for a limit in the way of aggregate business acquisitions.PartnershipA Partnership consists of two or more individuals in business together. Partnerships may be as small as mom and pop type operations, or as large as some of the big legal or accounting firms that may have dozens of partners. There are different types of partnerships—general partnership, limited partnership, and limited liability partnership—the basic differences stemming around the degree of personal liability and management control.CorporationCorporations are probably the dominant form of business organization in the United States. Although fewer in number, corporations account for the lion's share of aggregate business receipts in the U.S. economy. A corporation is a legal entity doing business, and is distinct from the individuals within the entity. Public corporations are owned by shareholders who elect a board of directors to oversee primary responsibilities. Along with standard, for-profit corporations, there are charitable, not-for-profit corporations.Limited Liability Company (LLC)A limited liability companytakes positive features from each of the other business entity types. Like corporations, LLCs offer limited liability protections. But they have few paperwork and
ongoing requirements, and in that sense, they are more like sole proprietorships and partnerships.Another big benefit is that you can choose how you want the IRS to tax your LLC. You can elect to have the IRS treat you as a corporation or as a pass-through entity on your taxes.Cooperative A group of people owning an organization due to the cause of mutual benefit in known as Cooperative business. Members are the people who ae involved in the group. Unincorporated and incorporated are the two types of cooperatives.Example of a cooperative business are cooperative banking, housing cooperatives, water and electricity(utility) cooperatives and credit unions.The impact of different types of ventures on the economy The increase in employment rate is one of the most prominent advantages of venture on the economy. Small business start-ups, disposable income, and home foreclosure rates are some of the factors that are influenced by the employment levels which has an impact on a variety of standard of living metrics. An organization could get free advertisement by the method of word of mouth by hiring employees which could play a role in the success of the business if the venture treats its employees with respect. A feeling of community is seen due to employing candidates which could boost up the business and lead to their achievement. A good amount of Property tax, income tax as well as employment tax is payed by a significant amount of ventures in the United States and various other countries. Local government could invest more cash in improving public service, repairing roads and developing schools by having more firms in the economy of the local because they can raise up the income tax.