Business Models Comparison

• Types of Partnerships
  • General Partnership
  • All partners share management and full liability.
  • Limited Partnership
  • Some partners only invest money, do not manage, and have limited liability.
  • Limited Liability Partnership (LLP)
  • All partners manage the business and all have limited liability. No one is personally responsible for business debts.

Partnership Strengths and Weaknesses

• Strengths

  • Easy to form
  • No special business taxes
  • Shared decision-making
  • Easier to raise money than sole proprietorship

• Weaknesses

  • Sole Proprietorship
  • Unlimited liability - owner fully responsible
  • Hardest to raise capital - relies on owner’s money
  • Hard to raise money
  • Business ends if the owner dies
  • Partnership
  • Shared liability - partners responsible for each other
  • Risk of disagreements and arguments
  • Can end if a partner leaves or dies
  • Corporation
  • Limited liability - owners not personally responsible
  • Easiest to raise capital - can sell stocks and bonds
  • Can be expensive to set up with more regulations
  • Less personal control for owners

Case Study 1: Local Café Startup

• Scenario: Planning to open a café in Doha

• Business Structure Options:

  • Sole Proprietorship

  • Advantages: cheap startup, full control, simple setup

  • Disadvantages: personal financial risk, hard to secure big loans, business ceases if owner quits

  • Partnership

  • Advantages: share costs and ideas, less pressure

  • Disadvantages: potential for conflict, must share profits, business can end if a partner leaves

  • Corporation

  • Advantages: access to investor funding, protection of personal assets, potential for growth

  • Disadvantages: complex, expensive to start, less personal control

Case Study 2: Tech Startup with an App

• Scenario: Developed a fitness app and seeking to scale

• Business Structure Options:

  • Sole Proprietorship

  • Advantages: easy to start, full control, one owner

  • Disadvantages: difficulty in raising money, highly personal financial risk

  • Partnership

  • Advantages: shared workload and risk, diverse skill sets

  • Disadvantages: potential disagreement over decisions, business continuation issues

  • Corporation

  • Advantages: secure large funds, rapid growth potential, personal liability protection

  • Disadvantages: costly, subject to government regulations

Multiple Choice Questions: Business Structures & Types of Partnerships

1. Which model has unlimited liability and is hardest to raise capital?

   • B. Sole Proprietorship

2. In a general partnership, which is true?

   • C. All partners share management and liability

3. Main advantage of a corporation?

   • C. It raises capital more easily

4. Weakness of partnerships?

   • D. One partner may be liable for another’s actions

5. A limited partner typically:

   • C. Only invests money and has limited liability

6. Model with double taxation?

   • C. Corporation

7. What happens when a sole proprietor dies?

   • C. The business usually ends

8. Easiest to form but most personal risk?

   • D. Sole Proprietorship

9. Strength of partnerships?

   • C. Shared decision-making

10. Which type must file a charter?

    • C. Corporation

Education and Work Experience

• Formal Education:

  • Structured learning (e.g. high school, university, trade schools)
  • Certifications and licenses

• Informal Education:

  • Unstructured learning methods (e.g. reading, self-study, learning from mentors)

• Work Experience:

  • Application of skills through part-time jobs, internships, and volunteer work

Skills Overview

• Technical Skills:

  • Computer programming, equipment operation, data analysis

• Soft Skills:

  • Communication, leadership, problem-solving, teamwork, time management

• Examples:

  • Formal Education: Electrician course completion
  • Informal Education: Self-learning video editing
  • Work Experience: Internship in software
  • Soft Skills: Leadership in group projects

SMART Goals Framework

• Specify, Measure, Achieve, Relevance, Time-bound
• Example Goals:
  1. Fitness: Jog three times a week for health
  2. Financial: Save 500 QAR in 10 weeks for headphones
  3. Academic: Study for 30 minutes daily to improve math grade