Types of Business Ownership
Nonprofit
Banks are more willing to loan money
Partnerships
Income is taxed twiced
Corporation
Manufacturers
Process of planning, pricing, promoting, selling, and distributing ideas, goods and services
Marketing
Corporation
Sole Propritorship
Owner has unlimited lability
Sole Proprietorship
Producer
Procurement
Owner must give part of the profits to the partent company
Franchise
Operated by its members
Cooperative
Partners share business risk
Partnership
Business that moves goods form one business to another
Intermediary
Process of achieving company goals by planning, organizing, leading, controlling, and evaluating the effective use of resources
Management
3/4 of all businesses in the United States
Sole Proprietorship
Limited liability holds a firm's owners responsibly for no more than the capital that they have invested in it.
Corporation
Not making a profit
Nonprofit
AKA distributer
Wholesalers
Business or art of managing money
Finance
Organization that is owned and operated by its members
Cooperative
Offers a well-known name and a business plan
Franchise
Invest money and pay fees or a share of the profits
Franchise
Purchases goods from a wholesaler and sells them to consumers
Maintaining and checking records, handling bills, and preparing financial reports for a business
Accounting