proprietorship is one man owned business which is normally controlled by himself, whereas partnership is where 2 or more people contribute to start business they share capital responsibilities and profits/loss.
A corporation is created under the laws of a state as a separate legal entity that has privileges and liabilities that are distinct from those of its members. and is normally refer to Limited liability businesses.
its vary from business to business which one u should go with, if u don't want to share control and profit then proprietorship is best, if u need more capital than u have then partnership but if u want that ur personal assets are not sold if business went into liquidation then limited liability company are best for u
hamzanajam @ h o t m a i l . c o m
Explain the differences between a proprietorship, a partnership, and
a corporation in 200 to 300 words. Why would an entrepreneur want
to choose one over the other? If you were starting a new business,
which would you choose? Explain why.
2 answers
why do entrepreneurs choose proptietorahip , partnerships, or corporation over each other?
1 answer