Management Coursework

Business management 14
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Abstract
The foremost decision one needs to consider in structuring the business. All the business need to adopt legal frameworks for defining the rights and the liabilities of all people taking part in a business. The decision made must have long term implications for the business. Each business organization has its pros and cons. People set different kinds of business by capital raised and merits and demerits involved in such a business. Tax implications need to be considered too in coming up with a business. This is because business is vulnerable to lawsuits and expects both profit and loss. In starting any business, one needs to access out all the cash needed in re-investing all the earnings with the aim of getting more profit. There are there main legal forms of business setting; these are sole proprietorship, partnership and corporation.
Key words: business, sole proprietorship, partnership, corporation
Business management week 14
In the business organization, there are primary three legal forms; these are the sole proprietorship, partnership, and corporation. Each of the forms has its own merits and demerits in a business setting. A sole proprietorship is a form of business which is majorly owned by one individual. A person decides to open a sole business due to personal interests and the kind of capital invested in it. The main advantage of one owned business is that an individual makes al…