3 Types of Business
By: Alex Shumaker
Sole Proprietorship
- A business owned and managed by a single person.
- NC- Haps in Salisbury
- A-Easy start-up, Full Control
- D-Limited access to resources, Full liability
Partnership
- A business or organization owned by two or more people
- NC- Weddingtons Greenhouse in China Grove
- A-Shared Decision Making, Easy start-up
- D-Potential Conflict, Unlimited Liability
Corporations
- Legal entity owned by individual
- NC-Cheerwine
- A-Long Life, Transferable ownership
- D-Double Taxes, Expensive