Comparative Paper On Owning Your Own Business

| A sole proprietorship is easy to create; there is minimal creation cost and time.The single owner has autonomy in decision making; sole owner makes all decisions related to the business and has complete ownership of business’s finances.

Sole Proprietorship would give you complete control since you assume all the risks, which mean you get all the profits, but you also suffer all the losses and liabilities. There is little to no paperwork to be done with a sole proprietorship. You only pay personal income tax to include Social security. The business doesn’t have to file a tax return, but you are still liable for payroll, unemployment and compensation taxes (Clarkson, Miller, & Cross, 2016).

Hook How many of you have seen a person publicly shamed or embarrassed? We have all seen these instances where people have been called out for everyone to see. Hester Prynne In Nathaniel Hawthorne's The Scarlet Letter, is publically shamed in front of the whole town and is forced to wear a scarlet A on her chest. All because of her sin, adultery.

However, if a person is self-employed they still have protection for their health and safety and, in some cases, protection against discrimination, and their rights and responsibilities are set out by the terms of the contract they have with their client.

Self employed - if you are not employed in a contract of employment with an employer but contracted to provide services other a period of time for a fee or be a business in your own right. Therefore a person will work for themselves rather than a employer. You do not have employment rights but have to pay your own income tax and national insurance contributions.

Self-employed people will run their own business, they will be contracted to provide a service their clients. They will not be paid through PAYE and they do not have the same employment rights as employees or workers, Self-employed people will however still have protection for their health and safety on a client’s premises, they will have their rights and responsibilities set out in the terms of the contract with the client. They will not be entitled to holiday pay. They may however in some cases be classed as self-employed for tax purposes but classed as an employee or worker for employment rights. See point 2 Appendix

For this assignment, the two contrasting businesses where both businesses have different types of ownership and liability such as one being a for-profit business and the other one being a not-for-profit business. The two businesses are Tesco PLC and RSPCA which Tesco PLC is the for-profit business and RSPCA is the not-for-profit business.

Data from the National Survey of America's Families found that seven percent of the TANF leavers it sampled in 1997 were self-employed. This is similar to the national rate of self-employment, which was 8.1 percent in 1997. It is also higher than the self-employment rate among women, which was 6.6 percent in 1997. In rural areas, self-employment is an even more important source of employment—in 2002, 10.4 percent of workers in nonmetropolitan counties were self-employed, compared to 7.2 percent nationwide. And, in some rural areas, the role of self-employment is even more pronounced. For example, a recent study by the Center for Rural Affairs found that nonfarm proprietors constituted 22 percent of employment in rural farm counties throughout the Great Plains states”( 1).

The simple definition of the term pentagram is a five-pointed star whose arms are equal length that is drawn with a continuous line. Throughout history, this symbol has been used by religions and has many different meanings.

SOLE PROPRIETORSHIP: Sole proprietorships are the most common form of business in the United States. You and your business are one in the same. While being your own boss as its advantages, like working your own hours and collecting all profits made by the business, there are some disadvantages. For starters is coming up with starting working capital. Most Sole Proprietors have to seek funds from other sources.

Coca Cola is a soft fizzy drink sold in every store throughout the world. It is produced by The Coca Cola Company of Atlanta in Georgia, and is often called as Coke.

A three-month-old South Korean girl starved to death after her parents repeatedly left her alone for 12-hour stretches to rendezvous at a local Internet cafe, where they were nurturing a virtual child through a computer game known as “Prius Online.” The 41-year-old father and 25-year-old mother found their real child dead after returning from the cafe. The autopsy revealed that the baby died of prolonged malnutrition. While online, the couple were raising a virtual daughter seemingly as a form of escapism from their own lives. Both parents recently became unemployed and their baby had been born prematurely, which is taboo in South Korean culture and considered the parents’ fault. Chung Jin-won, a police officer in Suwon, a suburb of the nation’s

There are many advantages and disadvantages when owning your own business. When you own you own business, it’s known as a sole proprietorship. But with any type of business, there will always be advantages and disadvantages.

Autonomy is a goal of emancipation which is defined as breaking free from the authority of another. The hope for autonomy is one of the main drivers of efforts to become self-employed. Breaking free suggests the desire to make one’s own way in the world, breaking up draws attention to the striving to imagine and create a better world. Analyzing the seeking autonomy aspects of entrepreneuring opens up the following directions in entrepreneurship research:

First Difference between self employment and employment is freedom. When we choose to work, a lot of thoughts come to mind such as “Will I wake up so early tomorrow morning?” or “Will the bus arrives on time” and so on. After that we defiantly think about working for ourselves. When we are self employed, we set up our own schedules, meetings and work hours. We wake up when it is convenient, take lunches