understanding types of businesses
Download
Skip this Video
Download Presentation
UNDERSTANDING TYPES OF BUSINESSES

Loading in 2 Seconds...

play fullscreen
1 / 10

UNDERSTANDING TYPES OF BUSINESSES - PowerPoint PPT Presentation


  • 179 Views
  • Uploaded on

UNDERSTANDING TYPES OF BUSINESSES. What types of Businesses/Ag. Businesses do we have in Sleepy Eye? What are the major differences between these businesses?. What are the major types of businesses?. Individually Owned (Sole Proprietorship) Partnership Corporation Cooperative

loader
I am the owner, or an agent authorized to act on behalf of the owner, of the copyrighted work described.
capcha
Download Presentation

PowerPoint Slideshow about 'UNDERSTANDING TYPES OF BUSINESSES' - niyati


An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author.While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.


- - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript
slide2
What types of Businesses/Ag. Businesses do we have in Sleepy Eye?
  • What are the major differences between these businesses?
what are the major types of businesses
What are the major types of businesses?
  • Individually Owned (Sole Proprietorship)
  • Partnership
  • Corporation
  • Cooperative
  • LLC (Limited Liability Company)
individually owned sole proprietorship
Individually Owned (Sole Proprietorship)
  • A business enterprise where the individual owns, operates, manages, and receives the earnings of the business.

(The oldest and most common method of doing business.)

S 1.2

partnership
Partnership
  • A business enterprise owned and controlled by two or more people who have agreed to operate on a partnership basis.

(Family partnerships are common in farming.)

S 1.3

corporation investor oriented
Corporation: Investor-Oriented
  • A state-chartered business that has the right to buy and sell goods and services.
  • The most common form of business organization, and given many legal rights as an entity separate from its owners.

S 1.4

cooperative
Cooperative
  • A user-owned and user controlled (State-chartered) business in which benefits are received in proportion to use.

(Commonly used in agriculture to buy, sell, and service individual farm businesses.)

S 1.5

hybrid limited liability company
Hybrid: Limited Liability Company
  • A business structure that combines characteristics of both a partnership and a corporation. It combines the single-tax treatment of a partnership with the limited personal liability of a corporation. As in a cooperative, LLC owners are called members.

(Becoming increasingly common in agricultural business today.)

S 1.6

comparison of methods of doing business
Comparison of Methods of Doing Business

Hybrid

Limited Liability

Features

Individual-Owned

Partnership

Corporation

Cooperative

Who uses the Nonowner Generally GenerallyGenerally the Generally

services? customers nonownernonowner members nonowner

customers customerscustomers

----------------------------------------------------------------------------------------------------------------------------------

Who owns the individual partners stockholders members members

business?

----------------------------------------------------------------------------------------------------------------------------------

Who votes? Not applicable The partners Common stockholders The members The members

----------------------------------------------------------------------------------------------------------------------------------

How is voting Not applicable Usually by By shares of One-member, Usually by

conducted? Partners’ share common stock one-vote or members’

in capital proportional share in capital

-----------------------------------------------------------------------------------------------------------------------------------

S 1.7

free enterprise systems
Free Enterprise Systems

Two major differences: ownership and profit incentive

Ownership

Profit incentive

Individually owned The individual Profit for the individual owner

-----------------------------------------------------------------------------------------------------------------

Partnerships Two or more individuals Profit for the two or more partners

-----------------------------------------------------------------------------------------------------------------

Investor-oriented The stockholders Profit (dividends) for stockholders

------------------------------------------------------------------------------------------------------------------

Cooperative corporations The members Profit for members (higher income)

------------------------------------------------------------------------------------------------------------------

Limited-liability corporation The member investors Profit for member investors

------------------------------------------------------------------------------------------------------------------

Public business The public Least cost to taxpayers

S 1.8

ad