Advantages and Disadvantages of 3 Types of BusinessesBy: Shikari MartinDecember 7, 2011Entrepreneurial VenturesMrs. Davis

Sole ProprietorshipAdvantages

1. One person has absolute power

2. Owner receives profit

3. Easy and inexpensive to create

Disadvantages1. Owner is liable for

losses/debt

PartnershipAdvantages

1. Shared ideas2. Can split

responsibility and liability

Disadvantages1. General partner

takes full responsibility

2. Limited partner has less control than general partner

CorporationAdvantages

1. Status2. More money3. Employees receive

benefits4. Exist after the

owner has passed5. Limited liability6. Shareholders pay

taxes

Disadvantages1. Expensive to start

up2. Employees income

is more heavily taxed

Interpreting Results• Corporations were the business

that had the most advantages• The most disadvantages are tied

between a Corporation and a Partnership

Drawing Conclusions

My Results• Most Advantages:

corporations• Most

Disadvantages: tied between partnerships and corporations

Bobby’s Results• Most Advantages:

corporations• Most

Disadvantages: tied between all three