A sol proprietorship is a business owned by one person who:
1. may be the only employee
2. receives all profits
3. Suffers all losses and bears all risk
4. Is personally liable for everything within the business.
Sol proprietorship Advantages:
1. Easy to Start
2. Owner pays only personal income tax on business earnings
3. Fewer government regulations
4. Freedom of choice within the business
5. Owner makes all profits
Sole Proprietorship Disadvantages:
1. Difficult to finance or expand
2. long hours
3. unlimited personal liability
4. no support
5. no shared risk
Partnership Advantages:
1. Partners can pool resources
2. Risks and liabilities are shared
3. Skills and contacts are expanded
Partnership Disadvantages
1. Shared Profits
2. Partners are liable for each others actions
3. Disagreement can end the business
4. Dissolving the business can be difficult.
1. may be the only employee
2. receives all profits
3. Suffers all losses and bears all risk
4. Is personally liable for everything within the business.
Sol proprietorship Advantages:
1. Easy to Start
2. Owner pays only personal income tax on business earnings
3. Fewer government regulations
4. Freedom of choice within the business
5. Owner makes all profits
Sole Proprietorship Disadvantages:
1. Difficult to finance or expand
2. long hours
3. unlimited personal liability
4. no support
5. no shared risk
Partnership Advantages:
1. Partners can pool resources
2. Risks and liabilities are shared
3. Skills and contacts are expanded
Partnership Disadvantages
1. Shared Profits
2. Partners are liable for each others actions
3. Disagreement can end the business
4. Dissolving the business can be difficult.
Eight Step Sale
1. Prepare
2. Greet
3. Show the product/Service
4. Listen to the customer
5. Answer Objections
6. Ask For commitment
7. Follow-Up
8. Ask for References
1. Prepare
2. Greet
3. Show the product/Service
4. Listen to the customer
5. Answer Objections
6. Ask For commitment
7. Follow-Up
8. Ask for References
There are 28 million small businesses in the U.S.
which...
1. produce 60%-80% of all new jobs
2. Pay 44% of the U.S. payroll
3.70% are owned and operated by a single person
which...
1. produce 60%-80% of all new jobs
2. Pay 44% of the U.S. payroll
3.70% are owned and operated by a single person