Business Systems

Business Systems

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  • Oh Wow! That's really cool!
  • Wow! It's amazing how someone can run this newspaper stand by themselves.
  • It's called a Sole proprietorship.  A sole proprietor has complete control and decision-making power over the business.
  • Oh, I guess that's not as great .
  • but The owner is also personally responsible for all debts and liabilities incurred by the business.
  • Yeah, but that hasn't stop seventy percent of USA's businesses.
  • Oh that's cool, it's always better to have two people.
  • So then what is the business?
  • Well, not always  There is a risk of disagreements and friction among partners and management.
  • This is a Partnership, that means two people run the business .
  • Yeah, you're right. Partnership is something that I will keep in mind.
  • But don't get me wrong, it is always better to have two heads other than one. 
  • Well I'm hungry let's grab something to eat!
  • Oh, I guess that's not the best option for me then, but that might be better for me down the road.
  • Now this is a Corporation, Corporations may be able raise additional funds by selling shares in the corporation.
  • but, corporations are very expensive and are time consuming, and probably not the best for someone to start a company.
  • Although I will be working alone, I get to make the best decisions and be able to control my business how I want it. Thank You again for this amazing learning experience.
  • So, I took into consideration as to what you were saying and I realized that the best thing for me would be a sole proprietor.
  • No problem, I'm always happy to help.
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