SBA
The SBA headquarters
What is Washington DC?
A business owned and operated by 1 person
What is "Sole Proprietorship"?
A business owned and operated by 2 people
What is a "Partnership"?
A business owned by a group of people and authorized by the state to act as though it were a single person, separate from its owners
What is a "Corporation"?
List the 3 forms of Business Ownership
What is "Sole Proprietorship", "Partnership", and "Corporation"?
SBA Stands for
What is "Small Business Administration"?
What is "they did not prepare a business plan"? "Their plan was unrealistic"? "They wrote the plan only because a lender (bank) required it"?
Partnerships ___ (do/do not) pay tax on their profits
What is "do not"?
Another name for the "certification of incorporation"
What is a "charter"?
An individual who serves and receives legal papers on behalf of your company
What is a "registered agent"?
1 of the 5 funding programs/assistance offered by the SBA
What is loans? Investment Capital? Disaster Assistance? Surety Bonds? Grants?
Sole proprietors assume a great deal of _____ because they incur unlimited losses if the business fails
What is "risk"? "Liability"?
A type of partnership with 1 general partner who has unlimited liability and 1 limited partner whose liability is limited to their investment
What is a "Limited Partnership"?
List the 3 key groups of people in corporations
What are stockholders, directors, officers?
Cost of Incorporate in Texas
What is $300 for for-profits and $25 for non-profits?
Number of articles on the Certification of Incorporation. List 2 of them.
What is 5: The Business Name, the registered agent, the directors, the shares, the purpose.