If unitary would like to open up a crushed course such(prenominal) as a groom shop or hair salon a fix proprietorship may be a suggested tune of business. In a sole proprietorship the owner is the business. Many small businesses operate under a sole proprietorship because it tends to concur many advantages. Small businesses such as a groom shop or hair salon or yet places such as dry cleaners and small cafés use sole proprietorships because it is the easiest form and the least expensive form of business. The owner has the right to make decisions and receives all the business profits. other benefit to these services becoming a sole proprietorship is that no federal or state approval is needed, and the business is easy to sell if necessary. A sole proprietorship is in any case considered as a rive entity so the business does not have to pay revenuees. The earnings and losses are kinda placed under the owners personal tax (Cheeseman, 2010, p. 530).
Partnership
A partnership is an association of two or more than people. These individuals voluntarily create a partnership to carry on a business to gain a profit. The formation a partnership creates rights and duties between partners. Partnerships like corporations are a separate entity from the shareholders.
Yet, unlike corporations partnerships must have at least one public partner who is has unlimited liability for the business. Small businesses such as bakerys or boutiques are acceptable examples of partnerships. In a partnership, All partners distribute profits and losses to shareholders with out regard to any profits retained by the business for cash flow purposes (Perez, 2012, p. 1).
limited Liability Partnership
Limited liability partnership is used for certain types of businesses including attorneys, physicians, and accountants. A general partnership is the first type of limited liability partnership. A general partner invests capital, manages the business and is personally liable for...If you need to get a full essay, order it on our website: Orderessay
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