Best Solutions There Are Seven Forms Of Business

Business Organization and GovernanceFranchiseOther forms of businessSole ProprietorshipSole partnership is a business owned by an individual or married couple. It is the most common form of business. Sunshine Furniture, owned by Giovanni Rundo and his wife Dona Rundo is an example of a sole proprietorship. According to SunshineFurniture.com, “Sunshine Furniture began as a small gift and accessory store at 61st & Memorial in Tulsa in 1996”, before expanding to “Target building at 71st & Memorial, which is 100,000 sq. ft. of showroom space plus an additional 100,000 square feet of warehouse” in 2004, and later to other parts of the country (Sunshine Furniture, 2016). The Rundos takes an active role in the day to day running of the business. Benefits of sole proprietorship include flexibility of management, fewer taxes and fewer legal controls. However, the main disadvantage is that, the owner is personally liable for the debts of the business.General PartnershipGeneral Partnership is made of at least two unmarried persons who agree to pool capital, expertise and labor to a common business. The partners agree on the terms of the partnership, such as how to contribute capital, labor, and how to share profits, losses, and how to