Entity Business Plan

Essay by xorcist316University, Bachelor'sA, May 2010

download word file, 9 pages 0.0


Entity Business Plan

University of Phoenix

BUS/415 Business Law

CERTIFICATE OF ORIGINALITY: I certify that the attached paper, which was produced for the class identified above, is my original work, and has not previously been submitted by me or by anyone else for any class. I further declare that I have cited all sources from which I used language, ideas, and information, whether quoted verbatim or paraphrased, and that all assistance of any kind, which I received while producing this paper, has been acknowledged in the References section. This paper includes no trademarked material, logos, or images from the Internet, which I do not have written permission to include. I further agree that my name typed on the line below is intended to have, and shall have the same validity as my handwritten signature.

Student's signature (name typed here is equivalent to a signature): Brandon Sakamoto

Many decisions need to be made when considering a new business venture.

The success rate of a new business surviving at least two years is approximately two-thirds; therefore, careful consideration needs to be taken when making these decisions in order to succeed. Before starting a business, an individual needs to become acquainted with the different types of business organizations in order to decide which type it should operate as. Differentiating between the strengths and weaknesses of the business organizations and the legal issues that impact the structures will aid in determining what type is best suited for the business venture. After reviewing the different factors involved, an initial business plan for Designer Flooring, a high-end flooring contractor will be developed.

There are various types of business organizations that exist: general partnership, sole proprietorship, limited partnership, (LLC) limited liability Company, corporation, an S-corporation, or a franchise. Choosing...