Friday, April 11, 2014
Business Structures
This week in Economics class we learned about the different types of business structures. We learned about sole proprietorship, partnerships, and corporations. I believe that partnerships are the best type of business structures. Partnerships allow for specialization and offer more resources than sole proprietorship. Yet partnerships still have less government regulation and are easier to open than a corporation. Partnerships still have a lot of liability but a business with more than one owner is more likely to succeed than a business with one owner. We still see many people try to open their own businesses and be sole proprietors. However, many of these businesses fail. We do not see many new corporations open. Partnerships open businesses often and they are more likely to succeed.
Subscribe to:
Post Comments (Atom)
I agree, a partnership will most likely succeed over other businesses. Partnerships allow more ideas and more access to resources. Also it's helpful that they are easy to open and close. But some types of partnerships can be risky like other business structures. One of the disadvantages of general partnership is that both partners are responsible for any debts or loses, even if only one partner causes it. But overall partnerships have the most potential to be successful.
ReplyDelete