TYPES OF BUSINESS

OWNERSHIP
Kylie Moore
Sole Proprietorship

Advantages Disadvantages
■ Easier and less expensive than ■ Work alone (loneliness)
other forms of business
■ All profits go to the owner
Partnership

Advantages Disadvantages
■ Don’t have to do all work alone ■ Deal with disagreements
■ Share responsibilities ■ Share profits
Corporations

Advantages Disadvantages
■ Shared responsibilities ■ Shared ownership
■ Work as a team ■ Ran by board of directors
■ Taxed
Franchises

Advantages Disadvantages
■ Room for mass growth ■ Pay franchise fee
■ Pay portion of advertising costs
■ Maintain franchisers standards
A Business I Would Open

■ If I were to open a business it would be an accounting company as a partnership.

■ It would be a partnership so:
– Make a lot of profit
– Work alongside someone I trust
– Shared actions and responsibilities to help stay calm and less stressed