3 Types of Business

by Geddi Monroe

Sole Proprietorships

A business owned and managed by a single individual.

Example: Casa Grande

Advantages: Full Profit return, Full control

Disadvantages: Full Profit loss, No aid when the ship starts sinking

Partnership

A business organization owned by two or more persons who agree on a specific division of labor and profit.

Example: Appalachian Regional Development Institute

Advantages: Divided failure, good backup

Disadvantages: Divided Success, disagreements

Corporations

  1. A legal entity owned by individual stockholders

    Example: Schultz Manufacturing Plant

    Advantage: Can be supported by stockholders, holders take some of the hit in the event of collapse

    Disadvantage: Not as much control, stockholders can determine success