2014 business org for students
DESCRIPTION
TRANSCRIPT
![Page 1: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/1.jpg)
BELLRINGER ON YOUR ½ SHEET
1. Describe a time when you were injured at a business, or might have been injured.
![Page 2: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/2.jpg)
Why are Entrepreneurs important?2 reasons
![Page 3: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/3.jpg)
Say you want to become…
![Page 4: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/4.jpg)
Risk vs. Reward How likely is my business to cause harm?
Liability Responsibility for risks
![Page 5: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/5.jpg)
Sole Proprietorship Single person 2 positives, 2 negatives Good for: low liability, low entry costs Benefits: single person has all control and keeps
all profits Drawbacks: single person assumes all risk, hard to raise capital
Examples: small construction firms, artistic firms, bloggers, import/export
![Page 6: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/6.jpg)
Partnerships
Two or more people in business together 2 positives, 2 negatives
Good for: low liability Benefits: low entry costs, shared costs Drawbacks: partners assume all risk hard to raise capital, agreements “like a marriage”
Examples: law firms, small specialized firms
![Page 7: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/7.jpg)
Subway page 218
![Page 8: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/8.jpg)
Liability
If your Sole Proprietorship or Partnership is sued…
They can take:Your houseYour carYour money in the bankYour future money!!!
![Page 9: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/9.jpg)
What happens if? New
Restaurant!!!
![Page 10: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/10.jpg)
![Page 11: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/11.jpg)
Corporation A legal “person” Good for: higher liability Benefits: owners protected easier to raise capital Drawbacks: double taxation increased regulation
Examples: restaurants, LLC’s, Sports Franchises
![Page 12: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/12.jpg)
Double taxation Corporation pays its own taxes: 25-35% Corporation pays employees wages/salary Employees ALSO pay taxes: 20-38%
Trade off is less liability more tax
![Page 13: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/13.jpg)
2 types of Corporations
Privately held – owned by founders or owners
Publicly held – owned by shareholders
![Page 14: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/14.jpg)
#2 OPTIC graph on page 220
CorporationsPartnershipsSole Proprietorships
![Page 15: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/15.jpg)
On a full sheetBellringer
1. OPTIC for this graph
Source: Forbes Magazine 2011
![Page 16: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/16.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 17: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/17.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 18: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/18.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 19: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/19.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 20: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/20.jpg)
Which of the 3 business orgs would you use to start a…..
Tile setting
![Page 21: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/21.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 22: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/22.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 23: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/23.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 24: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/24.jpg)
Which of the 3 business orgs would you use to start a…..
![Page 25: 2014 business org for students](https://reader033.vdocument.in/reader033/viewer/2022061111/54561678b1af9f37608b4ae5/html5/thumbnails/25.jpg)
Business Org Closure Pages 220-2232. How hard would it be to file articles of incorporation
in the state of Arizona?3. What is the difference between common and
preferred stock?4. Explain how double taxation works.5. What would you have to do if you wanted to open a
Subway franchise?6. Compare and contrast the advantages of owning a
franchise like a Subway. 3 for each7. Which business organization should you use to
open a restaurant? & why?8. Which business organization should you use to
open a computer tech company? & why?QE. Find an entrepreneur in the book who you could admire and
explain what you could learn from them. (list on page “x”)