Bianca Quintanilla- Sole proprietorship in a Perfect Competition
What is it?
In my opinion, a sole proprietorship would be perfect for you. It is the most simplest business form. A Sole Proprietorship is someone who owns a business by their self, and they are responsible for all of the profits and losses.
What type of business organization should I use? I was thinking about opening a local grocery store.
So do you think I would be able to make profit in a competitive industry?
Yes!! You are the only business owner. You are responsible for everything that happens and all of the profit. This is the most popular type of company in the United States. Your company has the ability to flourish!
That makes me feel so much more confident. Thank you!