2. SOLE PROPRIETORSHIP
ADVANTAGES DISADVANTAGES
Easy to start Responsible for debt/ losses
You make all the decision Hard to collect money
You receive all the profits If owner dies, the business decease
3. PARTNERSHIP
ADVANTAGES DISADVANTAGES
You and your partner/partners can Disagreements
share ideas(more ideas together) Greed
You all can split responsibilities Costly mistakes can cost you the
Most common business business
Easy to start Partner may be
Share profits/losses controlling, irresponsible, or lazy
You are responsible for each other
actions
4. CORPORATIONS
ADVANTAGES DISADVANTAGES
Make money easy Very difficult to start
Location Expensive
Employees benefits They can be sued
One can fail, and the business still
goes on
The main owner over the business
doesn’t have to be at every location
If owner dies, business still continues
They have the money to sue
5. INTERPRETING RESULTS
• 1. For which type of business organization did you list
the most advantages? The most disadvantages
I SAID THAT COPORATIONS HAVE THE MOST ADAVNTAGES
AND CORPORATINS & SOLE PROPRIETORSHIP HAVE THE SAME
AMOUNT OF DISADVANTAGES.
6. DRAWING CONCLUSIONS
3. Based on your slide presentation should entrepreneurs • 4. Based on the information presented in your slide
select the type of organization that has the most advantages presentation, which type of business organization would
listed? Explain. be best for someone wants to open an ice skating rink.
YES, IT WOULD BE VERY SMART OF AN ENTREPRENUER TO I THINK THEY SHOULD CONSIDER STARTING A SOLE
SELECT THE BUSINESS THAT HAS THE MOST ADVANTAGES , PROPRIETORSHIP, ONLY BECAUSE TO ME IT SEEMS LIKE A
JUST BECAUSE THAT WOULD RESULT IN THEIR BUSINESS SMALL BUSINESS THAT SOMETIMES IT COULD HARD TO RAISE
EXPANDING/BOOMING, AND THEY WOULDN’T HAVE TO TRY MONEY BECAUSE NOT REALLY EVERYBODY KNOWS HOW TO
TO FIGURE OUT HOW TO GET THE GOOD TO OUT WEIGH THE ICE SKATE AND BECAUSE IF SOMEBODY WAS TO START THIS
BAD . BUSINESS IT WOULD PROBALY JUST BE A LOCAL RINK, NOT
REALLY EXPANIDING ANYWHERE.
