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Essay

Types of Business Ownership

Essay specific features

 

Issue:

Business

 

Written by:

Helen P

 

Date added:

September 5, 2016

 

Level:

University

 

Grade:

A

 

No of pages / words:

4 / 1017

 

Was viewed:

9677 times

 

Rating of current essay:

 
Essay content:

Taxes may be lower than for regular corporations. The disadvantages of a sole proprietorship include: a. Unlimited liability. The proprietor is responsible for full amount of business debts no matter how incurred, which means that his personal property may be taken to cover debts of the business. This of course is a significant disadvantage...
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This of course is a significant disadvantage. b. Unstable business life, since the sole owner’s death would terminate the business. c. Difficulty in raising capital and in obtaining long-term financing, because an ownership interest in the business cannot readily be sold. A partnership is a legal entity that is jointly owned by two or more individuals...
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