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3 elements of a business plan - 🧠ANSWER ✔✔-cover page
-executive summary
-company summary
-products and services
-market analysis
-marketing strategy
, -financial plan
advantages of sole proprietorship - 🧠ANSWER ✔✔-minimal legal
restrictions
-simple ownership form
-low start up costs
-sole ownership of profits
-freedom in decision making process
disadvantages of sole proprietorship - 🧠ANSWER ✔✔-unlimited personal
liability
-less available capital
-possible difficulty obtaining long-term financing
-dissolution of the business on the even of the owner's death
who has limited liability in the company? - 🧠ANSWER ✔✔limited partners
advantages of a general partnership - 🧠ANSWER ✔✔-ease of formation
-direct profit rewards
-larger management base than that of a sole proprietorship