1. FORMS OF BUSINESS OWNERSHIP

2.  Describe each form of business ownership  Explain why there are different forms of business ownership  Compare the advantages and disadvantages of each type of business ownership OBJECTIVES

3.  As a group create a list of businesses that they are familiar with  Which two businesses create the most revenue? FORMS OF BUSINESS OWNERSHIP

4. BUSINESS OWNERSHIP AND REVENUE IN THE UNITED STATES Sole Proprietorships Data reflect the total revenue and business ownership for the year 2000.

5.  75% of all US businesses operate as proprietorships and account for 11% of total revenue or dollar sales  18% of all US businesses operate as corporations and account for 85% of total revenue or dollar sales  9% of all US businesses operate as partnerships and account for 4% of total revenue or dollar sales FORMS OF BUSINESS OWNERSHIP

6.  Predict where the two businesses that you circled from your list would fall in terms of business ownership  If corporations generate 85% of the total revenue, why would most businesses be organized as proprietorships?  There are positive and negative aspects to all forms of business ownership FORMS OF BUSINESS OWNERSHIP

7.  Download: Reading- Forms of Business Ownership  Use the defining format to define each type of business FORMS OF BUSINESS OWNERSHIP TermCategoryCharacteristics A sole proprietorship is a Form of business ownership that 1. 2. 3.

8.  If corporations generate 85% of the total revenue, why would most businesses be organized as proprietorships? FORMS OF BUSINESS OWNERSHIP

9.  Short answer quiz on the forms of business ownership  Discuss one positive and one negative aspect of each form of business ownership.  Share an example of a business that seems to fit the particular type of business ownership (the Hershey Company vs. the mom and pop candy shop around the corner). QUIZ PREP

10.  Quiz time 30 mins QUIZ

11.  Think about your project topic and of the different ways they will be communicating information about the topic to the audience at the financial literacy fair  Display board  Brochure  Talking about the topic  What have you learned in this lesson that can help you improve your culminating project products?  Identify and describe three ways in which the information you’ve learned in this lesson could improve your culminating project products.  List the places you’d like to make the edits. That is, identify which product or products should include the new information. FORMS OF BUSINESS OWNERSHIP

12.  Browse the information located on the US Small Business Administration website (http://www.sba.gov/) to learn how an entrepreneur can plan, organize, and finance a business.http://www.sba.gov/ ENRICHMENT

13.  Research other business ownership structures such as S corporations, government-owned corporations, not-for-profit corporations, joint ventures, etc  Create brochures representing each form ENRICHMENT

14.  Professional sports teams can be owned by individuals, partners, and even companies  Research a specific professional sports team and write a summary that describes the team and includes the current form of business ownership that the team has as well as any ownership changes that have taken place in the past. (http://en.wikipedia.org/wiki/List_of_professional_sports_tea m_owners).http://en.wikipedia.org/wiki/List_of_professional_sports_tea m_owners ENRICHMENT

15.  Social Studies: Choose a country and research the three most popular forms of business ownership for their particular geographical region  Create bar graphs (similar to the one presented in Class Period 1) that depict the three most popular forms of business ownership along with the total amount of revenue that is generated.  Share their findings with the class, and then compare your results. CROSS-CURRICULAR INTEGRATION