business organization
DESCRIPTION
Sole Proprietorship and other forms of business organizationTRANSCRIPT
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Types of ownership
1.Single-editor Ownership2.Multiple-editor
Ownership
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The Organizational Vehicle
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Organizational vehicle’S
ADVANTAGE AND DISADVANTAGE
1.Sole Proprietorship2.Partnership3.Corporation
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A
Advantages Disadvantages• Easily established• No partners or shareholders• Only pay taxes on income generated• All after tax profit stays with the owner• Minimal government regulation
• Owner must bear all costs of set-up and maintenance•No others to share burden or add expertise• Unlimited liability for debts•Unlimited liability for malpractice
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Advantages Disadvantages
• Easily established• Pooled expertise• Pooled resources• Flexibility•Business Income taxed as individual income• Minimal government regulation
• Unlimited liability of personal partner•Lack of Continuity• Potential for persona and authority conflict• Unlimited liability for malpractice• Must share profits with partner
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Advantages Disadvantages• Limited liability of stockholders • Ability to attract larger amounts of capital• Distinct legal entity• Larger pool of skills, talents and knowledge• Ease of transfer of ownership
• Cost and time involved in corporation process•Subject to corporate taxes• potential for managerial potential incentives• potential loss control of founder(s) of the corp.• other costs, registrations, seals, etc.• taxed twice
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Sole proprietorship
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- Or single proprietorship is a form of business organization, initiated , organized, owned or capitalized and managed by a single person- Entrepreneur is the capitalist, the manager, administrator, and in the beginning of the business, he practically does everything for the business
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partnership
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- Is an association of two or more business partners who co-own a business for the purpose of making a profit. The co-owners (partners) share the assets, liabilities, and profits of the business according to the terms of the partnership agreement.
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Types of Partners• General Partner• Limited Partner• Silent Partners• Dominant Partners• Capitalist Partner• Industrial Management• Managing Partner• Secret Partner• Nominal Partner or partner by estoppels• Liquidating Partners
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terima kasih!!!