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Owner is in charge of every aspect of the business
Sole Proprietorship
Business has many owners
Corporation
Very common way to start up a business if you want to work with someone else.
Partnership
Owners are the shareholders.
Corporation
Owner gets to keep all the profit
Sole Proprietorship
Owner is responsible for all debts and liabilities sustained by the business
Sole Proprietorship
Owners share the profit and have a legal agreement.
Partnership
Income is taxed as a personal income.
Sole Proprietorship
Has many employees and government keeps a close eye on them.
Corporation
This business can be tough as all decisions fall on you.
Sole Proprietorship
You have to split the income.
Partnership
You can sell shares of stock which brings in capital.
Corporation
Takes a lot of time, money, and people to start.
Corporation
Are taxed twice a year and they have to pay stock tax.
Corporation
Owners are not responsible for the business’s debts.
Corporation
