3. BUSINESS OWNERSHIP
Business ownership means having the
control over a business enterprise and
being able to dictate its functioning and
operations.
4.
5.
6. “ SOLE PROPRITORSHIP”
“ A Sole proprietorship is a business unit whose
ownership and management are vested in one
person the individual assumes risks or loss or
failure of the enterprise and receives all profits
from its successful operations”
(Paterson & plowman)
9. ADVANTAGES OF SOLE
PROPRITORSHIP
Ease of formation
Sole authority
Sole claim on profit
Credit standing
Minimum legal restrictions
Secrecy
Possible tax advantages
Self employment
10. DISADVANTAGES OF SOLE
PROPRITORSHIP
Burden of unlimited liability
Difficulties of expansion
Limited managerial ability
Lack of continuity
Operational disadvantages
Loss in absence
Absence of specialization
11. EXAMPLES OF SOLE PROPRIETORSHIP
Zia Company
Zia & Company is a family managed business established
in 1989 with the sole aim of manufacturing and exporting
quality Scissors and Surgical Instruments. We are based
in Sialkot City which is one of the major industrial centre
of Pakistan. Sialkot
Alfalah CNG
Alfalah Filling & CNG Station, part of Polani Group of
Companies is located in Karachi Pakistan. We are dealing
in IMW, Compair, Safe, Amwardi & All China CNG
Compressors and CAT Engine Parts, which are imported
from renowned companies around the wor ...
16. ADVANTAGES OF PARTNERSHIP
Ease of formation
Larger capital
Combined judgement and skills
Personal interest
Definite legal status
Tax saving
21. “CORPORATION”
The business that stands as a legal entity with
assets and liabilities separate from those of its
owners. There are unlimited number of
shareholders, upto 75 shareholders for S
Corporations.
22. ADVANTAGES OF CORPORATION
Limited liability
Transfer of ownership
Wefficiency of management
Large size
Ease of expansion
Long life
Legal entity
23. DISADVANTAGES OF CORPORATION
Taxation
Organizational expenses
Government restictions and reports
Lack of secrecy