2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents? Disscuss
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2. Can we call someone an entrepreneur if they bought an ongoing business from someone else or took over the operations of a family business from their parents? Disscuss
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- 3. If someone starts a small business and never needs to hire employees, can they becalled an entrepreneur?DisscussWould you prefer to start and organize an entirely new business than buy an existing firm? Discuss5. Is someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation?
- 1. If someone buys a business but hires professional managers to run it so they don’t have to be involved in the operations, are they an entrepreneur? 2. Is someone an entrepreneur if they buy into a franchise so they can follow a well-established formula for running the operation? 3. Is someone an entrepreneur because of what they do or because of how they think?Discuss FIVE (5) personal characteristics of a successful entrepreneur that will either result insuccess or failure in the process of shutting down their start upGive some advantages of Corporation (form of business). thank you! ❣
- 1. Can someone who works within an existing organization that they don’t own be considered an entrepreneur if they start an innovative venture for their organization? 2. Can a venture be considered to be entrepreneurial if it is a not-for-profit, or should only for-profit businesses be considered entrepreneurial?1. Setting Up a Business Your friend, Olivia Graves, is going to start her own chocolate shop, called Chocolate-By-Design. Olivia is an expert candy maker and one of the city's top pastry chefs. Olivia has come to you for advice on what type of business Chocolate-By-Design should be-a sole proprietorship, partner- ship, or corporation. Create a report comparing the three different types of businesses, along with your recommendation for Chocolate-By-Design's business structure.How would you go about incorporating a business?
- Which form of business is generally most costly to set up but offers the most personal protection? a) Sole proprietorship b) Partnership c) Corporation d) FranchiseDefine the following types of organizations and give an example of each. Also, how are profits taxed in each organization? Sole proprietorship Partnership LLC S-Corporation C-Corporation Which of the above organizations do you think would be the best for a start-up? Why?Why is it important for a business owner to understand the 3 principal forms of a business organization? The principal forms of a business include sole proprietorship, partnership, and a corporation.