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Business Scenerio Week 2


Submitted By erinling
Words 288
Pages 2
Sole proprietorship: If I were to open a business on my own I would be the sole one responsible for all the cost and the reliability of the business. No one else would have the responsibility of the business other than myself, this is something that I want to do in the near future and that is what I am going to school for business for.
If a person or group of people wanted to go in on a business with me than we would be partners in the business. We would pool together and establish a company together and it would be ran as a group or team. This is also something that my friend and I have looked into as our town needs more businesses and we would like to have something that we can run and make money and be our own boss.
Limited Liability: Limited Liability: Having signing the papers if something were to happen to the business that I have opened and it was not making any money than they could not come after me for money in the end. People sign these papers to make sure that they have themselves covered just in case something does happen and the business is not making a profit. Joint stock company:
I open by business that I have been wanting to in a long time but want to get a start I would ask people to invest in my company with a percentage of the profits that were being made. This is something that I would not do as it is a huge risk not knowing how well the company will end up and you may end up owing more in the end.

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