Factors to consider when deciding business ownership options

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pg 61

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9 Terms

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formation

Level of complication and cost of setting up

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Liability

Limited: owners are not personally responsible for business debts
Unlimited: owners are personally responsible for business debts

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finance

ability to raise capital, attract investors

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control

how much control the owner has over business decisions

5
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separate legal entity

if the business is legally distinct from its owners

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taxation

income/corporation tax

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dissolution

process of formally ending/terminating legal entity

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continuity of existence

does death/resignation/bankruptcy of an owner end the business’s existence

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