Compare And Contrast Small Business Idea (Essay Sample)
This week we have reviewed the basic organizational structure of businesses. As you have realized choosing the form of your organization is simple task and several key factors must be taken into consideration.
Respond: Propose a small business that you would like to create and compare/contrast the various methods of incorporating for your business. Which legal entity will you ultimately choose and why?
Small Business Idea
June 1, 2017
Small Business Idea
While starting a business, identifying the business idea is the first step. The business idea is the starting of a computer training institute. The idea has been chosen due to the increasing advancements in technologies. There exist various methods of incorporating a business. The methods are compared below.
The LLC and Corporation provide protection for both the business owner and the business. In both cases, the business owner is not liable for the business’ liabilities, and one cannot be taken to court for the business’ actions. The two differ when it comes to the business structure and taxation. In LLC, there is no need to have a specific business structure...
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