Welcome to Upper Oxford
Business Guiding and Mentoring
What are we all about
The website’s primary aim is to inform people of the business tips and tricks to employ. We try as much as possible to provide informative content which may help people. The business tricks and tips will enable one to know how to act or manage a business to be successful. Sometimes all people need is to provide some tips and see if they can emerge at the top if they try them out.
In addition, the business tricks and tips make people know what they should do in every step of their business and motivate them.
Three types of business company
6 best business company models in 2018
1. Sole proprietorship
The sole proprietorship is the most straightforward structure which only involves one individual who owns and operates the business. If you want to run on your own or as a married couple, then this is the business to consider. You are likely to enjoy its flexibility in management, less legal follow up, and fewer taxation. However, the owner is responsible for the business debts.
There are two types of partnership general and limited
3. General partnership
For the general partnership, the partners make contributions of money, labor, or skills to the company. They all share the company’s profit, loses, and management. In addition, each partner is liable to the business debts. In most cases, terms of the business are in a written partnership agreement.
4. Limited partnership
Limited partnership, on the other hand, involves both the general and limited partners. Limited partners do not control the day to day business activities but are investors and not accountable to the liabilities. Their losses are limited depending on their investment, but they share the profits equally.
A corporation has certain advantages compared to those of an individual. Shares of stock represent ownership and the shareholders who are the owners enjoy limited liability but are rarely included in the company’s operations. The board of directors, who are elected by the owners control the corporation activities.
6. Limited liability company or LLC
It has features of a partnership and corporation. One individual or many owners may form it. Members are the name given to the owners of LLC. The members are not accountable to the business debts just like limited shareholders. They can decide to run the business as managers or elect a manager.
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