Legal and Financial Decisions for Small Businesses
Not what you're looking for?
For each of the following small businesses, describe the best form of business ownership: sole proprietor, partnership, or corporation. The small businesses include the following:
-Retail electronics
-Software developer
-Advertising
Please Justify and explain why it is the best form of ownership for each particular business.
Also please include the advantages and disadvantages of the form of ownership.
Purchase this Solution
Solution Summary
The legal and financials decisions for small businesses are examined.
Solution Preview
Retail electronics - This one I would choose a corporation. The reason has as much to do with the cost of doing business as the business itself. There are many big electronics stores and the niches are often covered. Anyone who decides to enter the industry will have to move quickly, find and support a niche, and compete in a global market, even in a small town. All of these competitors will make business difficult and making the business its own entity will protect the owners/partners from losses suffered while providing some modicum of protection overall.
Software developer - These could be any. I would prefer sole proprietor if going into business, because the control of all the properties becomes the single owner's property. ...
Purchase this Solution
Free BrainMass Quizzes
Basic Social Media Concepts
The quiz will test your knowledge on basic social media concepts.
Transformational Leadership
This quiz covers the topic of transformational leadership. Specifically, this quiz covers the theories proposed by James MacGregor Burns and Bernard Bass. Students familiar with transformational leadership should easily be able to answer the questions detailed below.
Paradigms and Frameworks of Management Research
This quiz evaluates your understanding of the paradigm-based and epistimological frameworks of research. It is intended for advanced students.
Organizational Leadership Quiz
This quiz prepares a person to do well when it comes to studying organizational leadership in their studies.
Production and cost theory
Understanding production and cost phenomena will permit firms to make wise decisions concerning output volume.