Small Business Idea
March 4, 2013
Small Business Idea
There are numerous of people in today’s society were planning an event such as birthdays, anniversaries, and weddings is high stress and complicated. Starting an event planning company will be a great idea for small business. This will be a great opportunity for the fast pace society of today’s flow. Being able to solve an issue such as planning an event large or of the smaller scale is a high benefit and brides, family reunion hosts and children preparing for their parent's anniversary celebration could all use a little help planning. To start such a business first you should get an organizer equip to hold client personal information, make contact with caters and holders of up-scale venues, and gather as much local resources as possible. Sole Proprietorship
A Sole proprietorship is the most common type of business. The advantages of a sole proprietorship are there will be no papers to file with the state and the sole proprietor has complete control over the business with the power to make all decision. A sole proprietorship also has a minimal startup cost. A key disadvantage of a sole proprietorship is the risk of personal liability, for there is a lack of protection with this form of business. Partnership
A partnership is a business establish with more than one owner. With a partnership the owners have joint authority; this means that the owners have equal share in business agreements for the organizations. This will have the options of financing and borrowing cash greater, for there are two or more owners with collateral. More ideas and a better base for business development can come from partnerships. A disadvantage of a partnership is the liability of the other(s) business partners, and profits are shared as well as the decisions.
An C Corporations is the combining of many owners and is the choice for publicly traded companies....
References: Roberts, S. (2012). Financial Statements of a Sole Proprietorship. Retrieved from http://smallbusiness.chron.com/financial-statements-sole-proprietorship-14717.html
McIntosh, K. (2012). Legal, Social and Economic Issues with Opening a Partnership. Retrieved from http://www.ehow.com/info_8356027_legal-economic-issues-opening-partnership.html
Ardell, B. (2012). What are C Corporation Accounting Methods. Retrieved from http://www.ehow.com/info_7796117_corporation-accounting-methods.html
Kimmel, P. D., Weygandt, J. J., & Kieso, D. E. (2009). Accounting: Tools for business decision making (3rd ed.). Hoboken, NJ: John Wiley & Sons.
Abrams, R. (2003). The successful business plan; Secrets & strategies (4th ed.). Palo Alto, CA: The Planning Shop.
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