Business organization
Visit the Choose Your Business Structure (Links to an external site.)Links to an external site. section of the U.S. Small Business Administration’s website.
If you were to start your own business, which business entity structure would you choose? Justify why your chosen structure 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
Your paper must be three to five pages (excluding title and reference pages), and it must be formatted according to APA style as outlined in the Ashford Writing Center. You must cite at least two scholarly sources in addition to the course textbook. Cite your sources in-text and on the reference page.
Must use this reference as 1 of the references
Rogers, S. (2012). Essentials of Business Law [Electronic version]. Retrieved from https://content.ashford.edu/
Answer preview
Starting a business is a remarkable step for an entrepreneur. Before starting establishing a business, an entrepreneur needs to consider various factors which are significant in running the business. Failure to consider such factors, the business may perform poorly and end up failing. A business person is required to go through various business structures step by step with the help of adept people such as attorneys, accountants and so on. Arguably, there is no good or bad business structure, but the businessperson is required to choose the right structure that will work best for him or her. The entrepreneur…
(1200 words)