Types of Businesses
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| This is a one person business | show 🗑
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| show | partnership
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| Many owners or shareholders own this type of business | show 🗑
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| A business investment that involves renting or leasing another successful business model | show 🗑
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| The simplest and easiest type of business to organize and setup | show 🗑
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| This type of business is somewhat simple to organize (but not the easiest and not the most difficult to do so) | show 🗑
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| show | corporation
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| This (these) type(s) of business require(s) relatively small amount of capital needed; often supplied by owner(s) | show 🗑
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| show | corporation
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| Owner runs this type of business by himself/herself | show 🗑
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| show | partnership
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| show | corporation
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| show | corporation
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| This type (s) of business is (are) taxed as an individual only once | show 🗑
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| show | sole proprietorship; partnership
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| This type (s) of business face limited liability. | show 🗑
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| The method of ownership transfer or how the business can be terminated is by owner's decision or death. | show 🗑
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| show | corporation
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| show | partnership
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| show | limited liability
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| The business owner’s personal assets may be used to pay off the debts of the firm. | show 🗑
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| show | sole proprietorship
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| show | crowdfunding
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| show | venture capitalist
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| investors who provide funds to less-promising start-ups and more interested in survival of business rather than return on investment | show 🗑
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| show | incubator
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| Another name for crowdfunding is ___________. | show 🗑
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| show | corporation
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| show | 1, Easy to start up
2. Ease of management
3. No sharing of profits
4, Profit of firm is taxed only once
5, Psychological satisfaction of being your own boss
6. Easy to dissolve business (just pay outstanding bills and close shop)
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| show | 1. Unlimited liability
2. Limited ability to raise funds for business
3. Small size leads to inefficiencies
4. Limited managerial experience of owner
5. Difficulty in attracting qualified employees
6. Limited life
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| Identify the advantages of a partnership. | show 🗑
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| show | 1. Unlimited liability in a general partnership
2. Limited life
3. Decision may become complicated
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| Identify the advantages of a corporation. | show 🗑
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| Identify the disadvantages of a corporation. | show 🗑
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| Examples of this type of business include Microsoft, Apple, Nike, Amazon | show 🗑
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| show | partnership
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| show | sole proprietorship
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| Identify the advantages of a franchise. | show 🗑
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| show | 1. High start-up costs
2. Substantial termination costs-
3. Often have less control over business operations
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| Identify the things that must be in a business plan. | show 🗑
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To hide a column, click on the column name.
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You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
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