How to choose the right type of Business form LAW/531 How to choose the right type of Business form Today’s business world has many choices for the new entrepreneur to decide from when forming a business. The choices are sole proprietorship‚ partnership‚ limited liability partnership‚ a limited liability company‚ a S corporation‚ a franchise‚ and a corporate form. Development of scenarios portraying each of these forms of business will aid the entrepreneur with deciding which form will
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There are different types of ownership within the business sector. <br> <br>Sole tradership is when the business is fully owned and managed by one person‚ though others can be employed to help run the business. As the sole traders only financial income is from the business and/or bank loan‚ they do not have the resources to expand and cover regional or national areas. These types of businesses are located in the small business sector and usually cover local areas. Such businesses could be hairdressers
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Let’s take look at the most common types of business letters: Acknowledgement Letter : This type of letter is written when you want to acknowledge some one for his help or support when you were in trouble. The letter can be used to just say thanks for something you have received from some one‚ which is of great help to you. Apology Letter : An apology letter is written for a failure in delivering the desired results. If the person has taken up a task and he fails to meet the target then he apologizes
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Sonam Yangchen Gurung Business and Management HL Mr. Sanjeev Lama 20.09.12 TYPES OF BUSINESS SECTORS There are three types of business sectors in an economy. Primary‚ secondary and tertiary. Primary sector comprises of agricultural based or small scale industries in which investment is very low. For eg. Farming. It involves production of raw materials. The secondary sector consists of industries which focuses on manufacture of certain products and the
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Business Types of Ownership Before starting any venture it is very important to figure out how the organization is going to build its chain of command. Basically no business is made for short time and for this reason a very careful measurement should be done on ownership. Choosing the appropriate ownership in an organisation depends on nature of business‚ type of authority‚ delegation of work‚ span of organization‚ type of product‚ production and operation‚ legal procedure‚ financial matters and
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Types of Business Letters: Style Modified Block * Type the first line of each new paragraph flush with the left margin for this style. All lines of the body of the letter are flush with the left margin‚ according to English Plus. When you’re typing a letter in modified block style‚ the date and closing of the letter are both placed in center alignment‚ according to Library Online. Skip one line between paragraphs‚ the greeting ---- "Dear _______:" and the body of the letter. When you’ve finished
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There are at least six different types of business you could choose to start: 1. Sole trader – the oldest form of trading there is‚ it’s also the simplest and the most common type of business you’ll find. The clue is in the name – meaning that you are solely responsible for everything the business does and you’re often known as the proprietor. This is the usual form for small shops and businesses that provide services such as beauticians‚ hairdressers‚ photographers‚ gardeners and so on. When
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Letter of Inquiry – Training Program July 2‚ 2008 Mr. Rodrigo Rivera Personnel Director Technote Corporation 3152 Bridge Avenue Boston‚ MA 02154 Dear Mr. Rivera: May I ask a favor of you? Randy del Rosario‚ a representative of the Leverage Company‚ recently told me of your success in managing Technote’s training program for the hardcore unemployed. Our firm is presently planning such a program‚ and we would appreciate information about the mind-set section of your program. We expect to
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The sole proprietorship is the simplest form of business organization. A sole proprietorship is a business that is owned by an individual who is solely responsible for all aspects of the business. The owner is personally responsible for all debts of the business‚ even in excess of the amount invested. The business and its owner are thus considered the same entity. The advantages of a sole proprietorship include: a. Low start up costs‚ as legal and filing fees are at a minimum. However‚ many
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services or undertake a new business endeavor. The purpose of a feasibility study is to determine if a business opportunity is possible‚ practical and viable. When faced with a business opportunity‚ many optimistic people tend to focus on just the positive aspects. A feasibility study enables a realistic view at both the positive and negative aspects of the opportunity. A feasibility study is an important tool for making the right decisions. A wrong decision often leads to business failure. For example
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