Multimedia activity: Business Organization
Visit the U.S. Small Business Administration website. Under the "Starting and Managing" tab, click the "Choose Your Business Structure" link. Different business structures will be listed there.
Your assignment should include all of the following:
- If you were to start your own business, which business entity structure would you choose? Justify why the chosen business 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:
- Steps to form.
- Personal liability for owners.
- Taxation.
- Advantages and disadvantages.