Learning Objectives By the end of this section, you will be able to: As you venture into planning the resource allocation for your enterprise, you will learn that there are a variety of tools that can help you. It is…
Learning Objectives By the end of this section, you will be able to: You have learned about many opportunities for entrepreneurs to explore and the processes that ensure their success. This discussion focuses on the various resources that entrepreneurs need…
Figure 14.1 New Story is changing the way social enterprises manage resources through an innovative business model that uses crowdsourcing to fund construction. (credit: modification of photo provided by New Story) Chapter Outline 14.1 Types of Resources 14.2 Using the PEST Framework to Assess…
13.1 Business Structures: Overview of Legal and Tax Considerations Being an entrepreneur carries with it the responsibility to make significant decisions, the first of which is to decide the business purpose: For example, who should benefit from the creation of the…
Learning Objectives By the end of this section, you will be able to: Risk management is key to operating any business in a profitable fashion. There are many risks facing an entrepreneur when starting and operating a new business venture.…
Learning Objectives By the end of this section, you will be able to: In addition to the main entity selection topics already discussed, such as ownership structure and taxation, there are other considerations that entrepreneurs might want to consider. For…
Learning Objectives By the end of this section, you will be able to: A sole proprietorship is a business entity that is owned and managed by one individual and has very little formal structure and no mandatory filing/registration with the state. This…
Learning Objectives By the end of this section, you will be able to: A limited liability company is a hybrid of a corporation and a partnership that limits the owner’s liability. The big advantage that LLCs have over GPs is in the…
Learning Objectives By the end of this section, you will be able to: A partnership is a business entity formed by two or more individuals, or partners, each of whom contributes something such as capital, equipment, or skills. The partners then share…
Learning Objectives By the end of this section, you will be able to: A corporation is a complex business structure created by filing the appropriate documents with the state of incorporation (Figure 13.4). They are created when the original incorporators (owners) file a formal…