Think about a good or a service you could produce in the future. This might be something you already make, something related to your future career, or maybe even a family business.
Examples: crochet animals, cupcakes, chiropractic services
Complete each slide for this proposed business. You should replace the instructions on each page with your own ideas, pictures and titles. Do not leave the instructions on the page.
Add flair to the presentation by changing fonts and colors, and adding pictures and graphics
What forms of business organization will you establish?
i.e. sole proprietorship, partnership, and corporation
Why did you choose this structure? Give at least two benefits this type of business organization has over other types of business?
Give 2 drawback to this type of business organization, and explain how you will overcome these drawbacks
fill this out for a taco restaurant
Business Organization
Taco Time!
Sole Proprietorship
I have chosen a sole proprietorship for Taco Time! because it is the simplest form of business organization to set up and manage. Additionally, as the sole owner, I have full control over all decision-making processes.
Benefits:
1. Easy and inexpensive to establish
2. Full control over business operations
Drawbacks:
1. Unlimited personal liability
2. Limited access to capital
To overcome these drawbacks, I will ensure I have business insurance to protect myself from personal liability, and I will explore alternative funding options such as small business loans or grants to access capital for growth.