TYPES OF BUSINESS OWNERSHIP Dario Smagata Be your own boss Complete control over your business You get all of the profit.

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Presentation transcript:

TYPES OF BUSINESS OWNERSHIP Dario Smagata

Be your own boss Complete control over your business You get all of the profit

You do all of the business work Losses only affect you If the business fails, you could lose everything

You share the work with someone else You get input on how to run the business Losses are not as devastating if they are split

You don’t control the whole business You are responsible for your partner’s actions Disagreements can ruin your business

You have limited liability Additional capital can easily be raised Change of ownership doesn’t affect the company

Corporations pay higher taxes Establishing a corporation is complicated The company will be more expensive to run

You get a recognizable name and brand Many companies offer support to franchisees You get a pre-established customer base

You pay royalties and franchise fees Your business is not completely independent Products and services are not chosen by you

I would choose to open my business as a sole proprietorship. Despite the risks involved with this type of business, I would want to have full control over my company. I work best on my own and would want to be able to make my own decisions for my business.

THE END