Decisions in Business

Running Head: DECISIONS IN BUSINESS1 Decisions in Business Hayward L Young AIU University DECISIONS IN BUSINESS2 Abstract One of the biggest decisions aspiring entrepreneurs face in starting a late lineage is deciding on the flake of duty organization they would venture into. Needless to say, the structure of a business firm plays a vital role in determining critical factors like operating expenses, taxes and financing schemes. Likewise, not all forms of business organization suit a occurrence industry or owner. There be four sancti superstard legal forms of business organization in the United States and each(prenominal) has its own pros and cons. Thus, in choosing the form of business organization, its important to reflect the possibilities and the competitive edge each has over the other. Those four are Sole proprietorship, Partnership, Corporation, and LLC. DECISIONS IN BUSINESS3 Decisions in Business In refreshen of the scenario, I found a lot of obstacles to hurdle in the startup of this business. Financially and the lack of experience in business operation that is involved could be a problem. Although the idea whitethorn be good it isnt as unique as one would think.

Once this product is Introduced other products and markets will be quick to mimic the applications or processes. This will cause new investment required for continuous improvement, which comes with risk. Business Types Sole Proprietorship: The advantage that Sole Proprietorship can offer in this case, is that if the business is successful the owner profits everything. The disadvantage is that he/she is also responsible for the losses, debts, and legal matters that comes along with the business. Partnership: This is another business type and the advantage of Partnership in this scenario, is with more than one owner the ability to raise funds may be increased, both because two or more partners may be able to contribute more funds and... If you want to sign up a full essay, order it on our website: Orderessay

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