Biz Innovator Startup - Starting Your Startup

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Select the key advantages as they apply to: (Sole) Proprietorship

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All decisions made by 1, few restrictions, low startup costs, no add fed. taxes, all profit kept by 1

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Select the key advantages as they apply to: General Partnership

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Owners can deduct many losses on personal returns; losses share between partners

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Select the key advantages as they apply to: Limited Partnership

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Good for raising money; Gen partners get money but maintain authority; Ltd partners can leave any time

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Select the key advantages as they apply to: C-Corp (default corporation)

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Stocks provide funding options; many tax deductions; no shareholder liability

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Select the key advantages as they apply to: S-Corp

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No corporate taxation; no double taxation, no shareholder liability

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Select the key advantages as they apply to: LLC

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Protected from liability, easy startup, no add fed. taxes

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Key advantages of Nonprofit: Serve the common good, exempt from taxes, Employees only taxed on income, Owners can deduct many losses on personal returns; losses share between partners, Low failure rate, business assistance, buying power, name recognition, potential for large profits

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Serve the common good, exempt from taxes

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Select the key advantages as they apply to: Co-op

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Employees only taxed on income

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Select the key advantages as they apply to: Franchise

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Low failure rate, business assistance, buying power, name recognition, potential for large profits

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What is the primary purpose of the SWOT Analysis?

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To evaluate 4 areas important to a businesses success