advantages and disadvantages of business organizations

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There are four main types of businesses:
<br>1. Sole Proprietorship
<br>2. Corporation
<br>3. Partnership
<br>4. Joint Venture
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<br>Operating as a sole proprietor is certainly the easiest and cheapest form of doing business. You basically open the doors and go. The temptation to operate this way is great and many succumb. The shortcomings of this form of business are great also. There is absolutely no protection between you and your business and there are no tax benefits. There are no particular record keeping requirements which is quite easy but often leads to sloppy business practice. Sloppy business creates poor decision making and sets up ...