Business Oportunity
- Submitted by: JD2004
- Views: 485
- Category: Politics: Economics
- Date Submitted: 10/23/2011 11:51 AM
- Pages: 3
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Small Business Idea
The fall of the economy has been lingering for several years. The number of jobs and new businesses opening has been at an all time low for the United States. The United States government has recently announced that over five billion dollars is being set aside for a grant program to help people who would like to open their own businesses. The grant program will be available to all types of new businesses. The government is hoping that this will help boost the lagging economy, as well as build trust in the government that is in place at the present time. Starting a small business will encompass many decisions about the new business. Deciding whether the organization will be sole-proprietorship, partnership, c-corporation, or s-corporation. Considerations of the financial statements that will be involved with each type of organization will be presented. Additionally, consequences in lieu of taxes, legalities, and the accounting implications will be explained. A summary of the new business venture will be revealed with an explanation about services and products being offered. The new business person has to be well educated on the material included in this information.
Types of Business Organizations
Starting a new business the business owners much choose from four main forms of business structures.
The legal entity that a new business owner can choose from is sole proprietorship, partnership, c-corporation, or s-corporation. The following information will discuss the advantages and disadvantages of each legal entity. The first entity to be covered will be sole proprietorship.
Sole Proprietorship Advantages
Most new business owners start out using the sole proprietorship entity. Businesses with this entity are managed completely by one person. Choosing sole proprietorship will give the owner several advantages over the other entities. The owner can make all decisions and not have to explain to any other people. Decisions like pricing,...
The fall of the economy has been lingering for several years. The number of jobs and new businesses opening has been at an all time low for the United States. The United States government has recently announced that over five billion dollars is being set aside for a grant program to help people who would like to open their own businesses. The grant program will be available to all types of new businesses. The government is hoping that this will help boost the lagging economy, as well as build trust in the government that is in place at the present time. Starting a small business will encompass many decisions about the new business. Deciding whether the organization will be sole-proprietorship, partnership, c-corporation, or s-corporation. Considerations of the financial statements that will be involved with each type of organization will be presented. Additionally, consequences in lieu of taxes, legalities, and the accounting implications will be explained. A summary of the new business venture will be revealed with an explanation about services and products being offered. The new business person has to be well educated on the material included in this information.
Types of Business Organizations
Starting a new business the business owners much choose from four main forms of business structures.
The legal entity that a new business owner can choose from is sole proprietorship, partnership, c-corporation, or s-corporation. The following information will discuss the advantages and disadvantages of each legal entity. The first entity to be covered will be sole proprietorship.
Sole Proprietorship Advantages
Most new business owners start out using the sole proprietorship entity. Businesses with this entity are managed completely by one person. Choosing sole proprietorship will give the owner several advantages over the other entities. The owner can make all decisions and not have to explain to any other people. Decisions like pricing,...