Welcome                                             To Our                     Free Business Training Webinar             ...
Tr       Training Overviewai      Topicsn       Is Business Ownership For you?i       Writing Your Business Planng      Bu...
We      Business Organizationek      What is Business OrganizationT       Why your choice of organization mattershre      ...
W       What Is Business Organization?hat      Legal structure or entity of your business?       Evolved from common law...
W       Why Your Choice Of Organization Mattershy        Probably the most important legal business decision you will make...
T      Basic Types of Business Structuresype      Sole Proprietorships       Partnershipso      Corporationsf       Li...
S      Types of Business Structures – Sole Proprietorshipole       Also known as Sole Trader in some countriesP      Most ...
P      Types of Business Structures – Partnershipsar      Fairly commontn      Can be general or Limited or a combinatione...
P      Types of Business Structures – Partnershipsar      Complementary partnershipstn      Strategic allianceser      Fou...
C      Types of Business Structures – Corporationsor        Legally separate entity with legal rights and liabilities, dis...
L      Types of Business Structures – Limited Companiesim       Also called Limited Liability Company in some countriesit ...
N      Types of Business Structures – Non Profitson        Uses surplus revenue to achieve organization’s objectivesPr    ...
H      Getting Help & Adviceelp        Do some research&        Talk to other entrepreneursA         Talk to a Lawyerdv   ...
D      What To Do / What Not To Doos       Do                                                     Don’ta                  ...
End                                             Thank youof                                                    Next WeekWe...
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Business organization

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The idea of owning running a business is exciting and can be very rewarding. However, becoming a successful business owner can also be very challenging. It requires the right mindset, perspective, attitude, traits & know-how.

Our Free Business Training is designed to give you an insight into what it means to own a business and provide you with the basics to get you started off on the path to success.

This compact but complete 10 session program will cover topics from accessing if business ownership is the right path for you, planning, opening your business to growing and expanding.

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Business organization

  1. 1. Welcome To Our Free Business Training Webinar Business Organization3/16/2013 Free Online Business Training - Week Three – Business Organization 1 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  2. 2. Tr Training Overviewai Topicsn Is Business Ownership For you?i Writing Your Business Planng Business Organization Registration, Licenses, Permits InsuranceOv Business Finances & Financinge Business Locationr Tools, Technology & Equipmentv Staffingi Marketing & Openinge Growing & Expandingw 3/16/2013 Free Online Business Training - Week Three – Business Organization 2 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  3. 3. We Business Organizationek What is Business OrganizationT Why your choice of organization mattershre Types of Business Structurese Getting Advice & HelpTo What To Do / What Not To Dopics 3/16/2013 Free Online Business Training - Week Three – Business Organization 3 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  4. 4. W What Is Business Organization?hat Legal structure or entity of your business? Evolved from common law form of business law Forms of entities depend on law of particular country/jurisdiction Forms/normenclature can be different by country Usually can find equivalent of entity in another jurisdiction 3/16/2013 Free Online Business Training - Week Three – Business Organization 4 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  5. 5. W Why Your Choice Of Organization Mattershy Probably the most important legal business decision you will make when going into? business for yourself:. Your choice can directly affect: Your taxes Your personal liabilities Getting financing for your business Paperwork requirements Set up costs 3/16/2013 Free Online Business Training - Week Three – Business Organization 5 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  6. 6. T Basic Types of Business Structuresype Sole Proprietorships Partnershipso Corporationsf Limited CompaniesSt Non-Profitsructure 3/16/2013 Free Online Business Training - Week Three – Business Organization 6s www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  7. 7. S Types of Business Structures – Sole Proprietorshipole Also known as Sole Trader in some countriesP Most common and simplest form for small businessesro Owned and controlled by one individual, even if there are many employeespr Owner can use legal name or trading/DBA nameie All assets and profits belong to ownerto Unlimited liabilities for debt & lossesrs Will cease to exist upon incapacitation or death of ownerhi 3/16/2013 Free Online Business Training - Week Three – Business Organization 7p www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  8. 8. P Types of Business Structures – Partnershipsar Fairly commontn Can be general or Limited or a combinationer Owned and operated by one or more individuals in general partnershipsh Limited partners mainly serve as investors onlyip Pooling of resources, skills and talents General partners can act on behalf of each other and make binding decisions There can be tax benefits. Personal liability can also be a concern in general partnerships Entity can cease to exist upon death or withdrawal of one or more partners 3/16/2013 Free Online Business Training - Week Three – Business Organization 8 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  9. 9. P Types of Business Structures – Partnershipsar Complementary partnershipstn Strategic allianceser Founder -Employee partnershipsh Friends as partnersip Family as partners 3/16/2013 Free Online Business Training - Week Three – Business Organization 9 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  10. 10. C Types of Business Structures – Corporationsor Legally separate entity with legal rights and liabilities, distinct from its ownerspo Can operate for profit or not-for-profitra Can be dissolved by court order or by shareholdersti Does not cease to exist if shareholder(s) dies, become incapacitated or sell their shareson More complex and expensive to set up and operates Has ability to raise funds Liability protection for owners. A corporation can also be unlimited Many countries have more that one form of corporation 3/16/2013 Free Online Business Training - Week Three – Business Organization 10 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  11. 11. L Types of Business Structures – Limited Companiesim Also called Limited Liability Company in some countriesit Ease of set up similar to Sole Proprietorshiped Offers liability protection similar to corporateC Need to separate personal funds from business assetsompanies 3/16/2013 Free Online Business Training - Week Three – Business Organization 11 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  12. 12. N Types of Business Structures – Non Profitson Uses surplus revenue to achieve organization’s objectivesPr Can be chartable or service organizationsof Can apply for tax exemptionits 3/16/2013 Free Online Business Training - Week Three – Business Organization 12 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  13. 13. H Getting Help & Adviceelp Do some research& Talk to other entrepreneursA Talk to a Lawyerdv Hire an Accountanti Payroll Service Providerce Local Chamber of Commerce Outsource 3/16/2013 Free Online Business Training - Week Three – Business Organization 13 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  14. 14. D What To Do / What Not To Doos Do Don’ta partner with someone you don’t trust take your business structure seriouslyn conduct thorough research neglect your taxesd Draw legal agreements mix personal and business assetsD seek professional help Select a structure you don’t understando Outsource so you can focus on growing treat your business as a hobbyn’ts 3/16/2013 Free Online Business Training - Week Three – Business Organization 14 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com
  15. 15. End Thank youof Next WeekWe Registration, Licenses, Permits & InsuranceekT Have a great weekend!hr Visit our blog for online tools and resourcesee www.baanabaana.com 3/16/2013 Free Online Business Training - Week Three – Business Organization 15 www.baanabaana.com | Facebook.com/Baanabaana | @Baanabaana | info@baanabaana.com

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