Types of Businesses.

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Presentation transcript:

Types of Businesses

How many businesses can you name in one minute?

There are ____________ basic ways that businesses organize to earn profits. Three

Sole Proprietorship

1 Owner Sole Proprietorship All Profits All Risk/Liability

Partnership

2+ Owners Partnership Share Profits Share Risk/ Liability

Corporation

Risk/Liability is limited Authorized by law to act as a legal person Corporation Owners Share Profits *Double Taxation Risk/Liability is limited to investment

$ $ Double Taxation Consumers Business Government #1 #2 Stockholder Taxes on Profit $ #1 #2 Taxes on Income Government Taxes

Corporation: Stocks Stockholders ____________ (shares) pieces of ownership in a corporation. Stocks __________________ (shareholders) are owners of a corporation. Stockholders

Entrepreneur:

Entrepreneur: A person who takes risk to produce goods and services in search of profit. May establish a business according to any of the three types of organizational structures. Entrepreneurs play an important role in all three business organizations.

Complete the Processing Activity