2nd Official Entry for 2nd Quarter: "Advantages and Disadvantages of Different types of Business"

Single Proprietorship(Advantages and Disadvantages)

There are some advantages of having single proprietorship type of business, the first one (1) Only the owner will have all the profit from the business. All the money that his or her business will earn is all for her. The second advantage of having this type of business is (2) Easy management of the business, because you don't have need to argue to someone who has any idea because you are the only one who runs the business. If there is advantages, it also have disadvantages, the first one is (1) all the problems of the business, only you will suffer. For example, you business is bankrupt, you are the only one to stand up and continue the business. The second disadvantage of this business is (2) you have Limited capital, because you are the only one who can invest for your business. Third (3) Limited life is also considered as disadvantage, because if the owner died, the business also will stop and die.

Partnership(Advantages and Disadvantages)
These are the advantages of partnership type of business. Let me enumerate it. The First one is (1) having more capital rather than single proprietorship business. You can have more capital in this type of business, because, you can have many investors for your planned business. Second advantage is(2) Many ideas. You can ask you partners for ideas in innovating the business if you want to improve your business, and if there's any problem, all of you will suffer, not only one. The disadvantages of this type of business is (1) Sharing of profits and earned money. You need to divide the profit equally for your partners, for example, if the business earn only one thousand pesos, and you are 5 partners in business. Each one of you will only receive 200 pesos for your profit. The second disadvantage of this type of business is (2) when you disagree to each other, it hard to manage the business if on of your partners will disagree in a particular idea. It is hard to think another idea when someone disagrees with you.

Corporation(Advantages and Disadvantages)
There are few advantages of this type of business. The first one is(1) Bigger Capital for a business. In this type of business(Corporation) has many investors. So the money that will be used in the company or in the business is bigger. It can start with a big business until you will have franchises and branches. You need to cooperate with your stockholders to maintain the business good and improve. The second advantage of having corporation type of business is (2) Unlimited life, because if the owner of the business died, there are many stockholder can still manage the business. And for the disadvantages of corporation, The business is control by government and hard to manage, you need to trust to all the employees that you have in the business. The other disadvantage of corporation is "disagreement" if one of the stockholders disagree, the business will fall or have a big problem.

These are the Advantages and Disadvantages of Different types of Business.