A General Overview Of A Business Plan For A Small Business (Essay Sample)

Business plan overview
Sole proprietorship
A scenario of a small business like snack business
Liability (Ability to raise capital)
The sole proprietor is the sole provider of the business and therefore the owner is the one responsible for paying all the debts of the organization. Moreover the owner could be sued by his workers and consumers. Small business tends to have less debts and easy to pay together with the less number of workers which makes it favorable for such type of organization.
Ability to raise capital
The capital is raised by the sole owner
Transfer of ownership and life.
In the type of the ownership the business and the person are treated as one and the same hence the business will be liquidated or terminated once the owner is dead. Moreover, the business is transferable which means all the rights, owner, and business information changes.
Partnership
Liability
Individual members in the partnership are liable to the losses and violation in the businesses. There is no protection of members in the partnership.
Ability to raise funds
The funds are raised by the partners involved.
Transfer of ownership
Partnership is owned by a number of owners and the transfer involves changing of the pa...