Types of Business

JoJo Santos

Big image
Big image

Partnership

Definition-A partnership is an arrangement in which parties agree to cooperate to advance their mutual interests.


Advantage- helps two companies achieve a common goal


Disadvantages- you may not like the partnership your in

Sole Proprietorship

Definition- Sole proprietorship is a type of business that is owned and run by one individual or one legal person


Advantages- You are the most powerful one in the business

Disadvantages- it is very time and money consuming