Professional Documents
Culture Documents
III. Forms of Business Organizations
III. Forms of Business Organizations
Business Organizations
Forms of Business Organizations
• Sole Proprietorship
• Partnership
• Corporation
Sole Proprietorship
• Business that is owned and managed by one person
• Type of business that a starting entrepreneur has
• Owner of this type of business is called owner or
proprietor
• E.g., sari-sari store, bakery, salon, carenderia
Advantages (Sole Proprietorship)
• Easy to set up and has no complex legal process
• Requires a small amount of capital only
• Easy to manage and control
• Owner gets all profit of the business