Essay on Types Of Business For A Business

1150 Words Nov 29th, 2015 5 Pages
When starting a business or even upgrading a business from a sole proprietorship to a Corporation, understanding the differences between the types of businesses out there is something that is a priority to ensure the success of your business. There are many advantages and disadvantages of having a these different types of business for example: If I were to start a business from my home or a store front and it is owned and ran by myself solely and there are no legal distinctions between myself and my business then this would be a sole proprietorship. Furthermore, I started a business with a partner in which I own 50% and he owns the same amount, our business is a Limited Liability Corporation. And we decided on a LLC simply to split our tax liabilities. Topic
“Melanie has a business where she sells cupcakes to the local community. She sells the cupcakes out of her basement which has access from her backyard. Patrons must walk down a set of stairs in her backyard, which often become icy in the winter time.”

I think having a cupcake business could be a very lucrative business but of course there are several items people should have before they decide to open a cupcake business, or even any business. 1. Having a great location is ideal for anyone starting a company. 2. Having a product or business that has been proven, that is needed or wanted. 3. Having enough capital for at least a 1 no less than 6 months.

I believe that Melanie could have the best cupcakes in the…

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