Different Structures Of Existing Business At The Time Of Decision Making And Implementation

850 Words4 Pages
It is a pleasure that you choose us as your consulting firm. Mr. Owner, first of all, you must need a complete understanding of the advantages and disadvantages of the different structures of existing business at the time of decision-making and implementation. Below will explain the different types and also our suggestions according our experiences as a consulting firm. A sole proprietorship is a business that has a single owner who is responsible for making decisions for the company. The costs are minimal it only requires a business name fictitious, a bank account and a commercial license. The exclusive property does not have double taxes on profits, such as in other business structures as in corporations. All taxes are reported in the statement of the individual owner. The owner has unlimited liability for the business and vice versa because legally there is no difference between the owner and his business. The Society is limited to only one person you cannot integrate a partner. Two or more persons who share the responsibility of leading the company form a society. The Society the main advantage of a society is that it allows you to integrate one or more partners to invest in the business. This also avoids double taxation. Each partner is joint, severe and personally responsible for the obligations of society. If the assets of the society are insufficient to meet a claim of a creditor, personal assets will be liquidated to pay the debts of the business. The Society is
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