Business Entities, Laws, and Regulations
Starting and operating in the altogether problemes requires the entrepreneurs to withstand several vital decisions, one of which is selecting the type of business organization. system types are sole proprietorships, general partnerships, limited partnerships, limited financial obligation partnerships, limited liability companies, and corporations (Cheeseman, 2010, p. 250). Differences between these organization types include the quench and cost of formation, the capital requirements of the business, the flexibility of management decisions, government restrictions, ad hominem liability, tax considerations, which packs this decision critical for the entrepreneurs to select the best blend in for their businesses (Cheeseman, 2010, p. 250). Once the organization type is chosen for the business, the owners or partners mustiness put guidelines in place to maintain the status of an correspond opportunity employer to their employees and provide the best product and service to their clients.
In the first scenario, entrepreneurs indigence to open a sports bar and eating place business. In the second scenario, an entrepreneur plans to open exterminating businesses in the joined States.
In the third scenario, a construction company has to make a decision of the best fit for a new hire to fill the position of jackhammer operator (University of Phoenix, 2011).
Scenario iodine - Starting a Restaurant and Bar Business
Entrepreneurs, Francis and Matilda, are grooming to open a new sports bar and restaurant. This business exit be a place for customers to drink, eat, socialize, and watch sports on widescreen televisions. Because Francis and Matilda do not have money to put into the business at startup, they have approached a wealthy investor, Miriam, to participate in their business venture. Miriam will provide the starting capital in telephone exchange for a percentage of ownership in the business (University of Phoenix, 2011)....If you want to get a full essay, order it on our website: Ordercustompaper.com
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