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Forms of Business Ownership 1 Sole Proprietorship One SCORE

Forms of Business Ownership 1 Sole Proprietorship One SCORE

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hi everyone what a wonderful day it is isn't it and today we will discuss an important topic in business the basic forms of ownership let's begin first sole proprietorship it is the simplest and most common structure chosen to start the business it is owned and run by one individual that person is entitled to all profits and responsible for all debts and losses he may hire employees for example a general store owner second partnership it is the most common type of business structure with more than one owner that is two or more individuals most business partnerships are general partnerships a general partnership is a partnership that all partners have responsibility for the business and liability for business debts this can also be your limited partnership a limited partnership is a partnership where it gives one owner is a general partner and at least one is a limited partner the general partners make the everyday business decisions and a liable for business steps however limited partn

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