Free Enterprise  One of the greatest privileges afforded by the U.S. economic system is the ability for any U.S. citizen to own and operate his/her own.

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Presentation transcript:

Free Enterprise  One of the greatest privileges afforded by the U.S. economic system is the ability for any U.S. citizen to own and operate his/her own business.

Type of Business Ownership  Sole proprietorship: A business owned and operated by one person  Partnership: A business owned by 2 or more people  Corporation: A business owned by stockholders

Pros/Cons of Sole Proprietorship Pros  Easier to start  You are your own boss and get to make all decisions  You control your income Cons  You have to work long work hours  You have to provide all the capital (start up money)  You are responsible for all money owed (debt)  The business is dependent on your health and ability to continue working

Pros/Cons of Partnerships Pros  More ideas  More money/resources to start up business  Help with making decisions and operating the business Cons  Have to share profits  Disagreements can occur

What sounds more inviting to you?

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