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Some disadvantages of co-operative companies:

Because each member only has one vote members may not want to invest money for expansion

because of the number of members decisions are difficult

Members can have conflicts

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With a co-operative members:

Own and control the business

Share the start-up costs and the running of the business

Share the financial risk

Pay less for goods and services and get more for those they sell

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With a corporation you:

More complicated structures than sole proprietorship or partnerships.

Employees who are not owners may not be committed to the business

Corporations must publish annual reports, which could give away important secrets to competitors

The value of company shares depends on the stock market (Public)

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These are businesses owned and operated by a group of people with a strong common interest. An example of a co-op is Smile Tiger Coffee.

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With a corporation you:

Have Limited Liability (Public)

Raise more funds more easily

Have a lower tax rate

Have a small company (usually (Private)

Do not make profit (Non-Profit)

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A corporation is a legal entity hat exists of its shareholders. Businesses usually become corporations after being a sole proprietorship. There are four types of corporations being public, private, crowned, and non-profit. An example of a corporation is Apple.

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As a franchisee you:

Buy a business with good reputation

Receive provided packaging, advertising, and equipment from the franchisor

Receive training and financial knowledge from the franchisor

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As a franchisee you:

Are buying an expensive franchise

Have to follow rules set by the franchisors

Fail if your franchisor's business fails

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A franchise is a business where authorization is given to people to make a store under that company's name and products. Franchisees are the people that get the authorization. An example of a franchise is McDonalds.

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With a partnership you:

Have unlimited personal liability

May have conflicts

Share profits

Have a harder time terminating the business

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With a partnership you:

Co-own the business

Share responsibilities

May have greater financial resources than a sole proprietorship

Share business losses

Share time commitment

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With a sole proprietorship you:

Have unlimited liability

Have limited resources

Could have management difficulties

Have overwhelming time commitment

Lack employee benefits

Have limited growth and lifespan of the business

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With a sole proprietorship, you:

Can easily start and end a business

Have the pride of ownership

Have a legacy to give to your children

Retain all the company’s profits

Have no special taxes

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This means that the company is owned by one person. Most companies start as sole proprietorships. An example of a sole proprietorship is Resource Integrated.

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Partnerships are when two people own a enterprise, and work together to keep it running. An example of a franchise is Spotify.

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There are five types of businesses. These are sole proprietorships, partnerships, corporations, franchises, and co-operatives.