Business Organization Padlet by Brandon Jordan https://padlet.com/bjordan7763/q2ggg280bkczgjwm en-us 2023-04-10 18:21:56 UTC 2025-11-24 12:34:36 UTC hello@padlet.com Characteristics bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549161833 *Owned by one person
*The most common form of business organization]]> 2023-04-10 19:05:01 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549161833 Advantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549161962 *The owner keeps all profits and does not have to share
*The owner makes all decisions on her own
*Easy to start]]> 2023-04-10 19:05:10 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549161962 Disadvantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162066 *Unlimited liability
*Difficult to attract qualified employees
*Difficult to attract qualified employees
*Limited access to funding
]]> 2023-04-10 19:05:18 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162066 Disadvantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162241 *Limited life (death of owner(s) ends the business)
*Potential for conflict
*Unlimited liability
*Profits have to be shared between co-owners

]]> 2023-04-10 19:05:31 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162241 Advantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162323 *Easy to start
*Can benefit from specialization based on owners’ areas of expertise
*More access to start-up money than sole proprietorships]]> 2023-04-10 19:05:37 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162323 Characteristics bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162438 *Owned by two or more people
*The least common form of business organization]]> 2023-04-10 19:05:45 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162438 Disadvantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162503 *Double taxation (taxed on profits and dividends)
*Greater government oversight/regulation
*Owners have little control over the day-to-day operations of the business]]> 2023-04-10 19:05:50 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162503 Advantages bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162565 *Access to large amounts of financial capital (money) for expanding
*Limited liability
*Easy to transfer ownership
*Unlimited life (business continues to exist even when ownership changes)
]]> 2023-04-10 19:05:54 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162565 Characteristics bjordan7763 https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162644 *Owned by shareholders
*Earns the greatest percentage of business profits in the U.S]]> 2023-04-10 19:06:00 UTC https://padlet.com/bjordan7763/q2ggg280bkczgjwm/wish/2549162644