Understanding Business
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
Question
Book Icon
Chapter 6.4, Problem 6.4AQ
Summary Introduction

To determine: The most common source of funding after personal savings.

Introduction:

A business that is independently owned and operated and is not dominant in its field of operation, meets certain standards of size in terms of employees or annual receipts is termed as small business.

Blurred answer
Students have asked these similar questions
A friend of yours owns a chain of 25 fitness centers in Florida and Georgia. The fitness centers cater primarily to young professionals, ages 21 to 40. Your friend is worried because his centers have declined in terms of overall membership. Your friend told you that he's interested in pursuing strategic alliances to rev up the growth of his centers but is having trouble thinking about the types of companies he can partner with. Provide your friend some suggestions.
You have been hired by an inventor of a new power cell for cars, trucks and boats, who has some inquiries from prospective investors who would like to know more about the invention before they put their money into the business. He has not yet incorporated his business, but likes the idea. There are three key issues to deal with: 1) Incorporate his company after explaining the pros and cons of incorporation. The name he proposed was 21st Century Vehicle Batteries Inc. 2) You must advise him as to how to protect his intellectual property. He has only applied for one patent that is not yet approved. What else should he do? Describe any essential steps. 3) Prepare a non-disclosure agreement for him to give to the prospective investors to sign. You will want to keep the NDA fairly easy to understand , so limit the document to 3 pages, but all the key points must be covered.
for each type of business option (sole proprietorship, partnership, LLC, Corporation) create an analysis that compares each type of business option. Define each type of business. Remember to include ease of formation, liability, tax implications, control of the corporation, and any other important differences.     Sole proprietorship Partnership LLC Corporation Ease of formation         Liability         Tax implications         Control of the business         Other important differences
Knowledge Booster
Background pattern image
Similar questions
SEE MORE QUESTIONS
Recommended textbooks for you
Text book image
Foundations of Business (MindTap Course List)
Marketing
ISBN:9781337386920
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning
Text book image
Foundations of Business - Standalone book (MindTa...
Marketing
ISBN:9781285193946
Author:William M. Pride, Robert J. Hughes, Jack R. Kapoor
Publisher:Cengage Learning