Organizing a Business

Organizing a Business types of companies their advantages and disadvantages

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Organizing a Business by Mind Map: Organizing a Business

1. Disadvantages -harder to set up -higher taxes

2. Advantages -easy to raise capital -no personal liability -transfer ownership -unlimited life

3. Solo Proprietorshisp Bakery

3.1. Disadvantages - unlimited liability -limited life -difficult to raise capital -limited capital for expasion

3.2. Advantages -Full control -Full receiver of profist -easy to set up -contolled by owner

4. Partnership Coffee Shop

4.1. Advantages -easy to set up -more resources -shared control -tax advanteges

4.2. Disadvantages -unlimited liability -difficult to raise capital -responsible for partner decisions

5. Corporation Technology Corporation

6. Franchise Subway

6.1. Disadvantages - high franchise -strict operatino restrictions -limited product line

6.1.1. Advantages -built-in reputation -management and training support -standardized quality -national advertising -buying power