Explain the business structures and sole proprietorship


Problem

Visit the Choose Your Business Structure section of the U.S. Small Business Administration's website.

If you were to start your own business, which business entity structure would you choose? Justify why your chosen structure is the best organizational form.

Explain the following business structures: sole proprietorship, partnership, LLC, and a corporation. In your analysis address the following for each business structure:

a) Steps to form
b) Personal liability for owners
c) Taxation
d) Advantages and disadvantages.

The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.

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Business Management: Explain the business structures and sole proprietorship
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