BEC中级第三单元.pptVIP

MODULE 3 3.1 Starting a Business Types of business (Ownership) A business that is owned and run or operated by one person sole trader sole proprietorship Sole Proprietorship Advantages Disadvantages Formation Easy establishment Low start up cost Source of funding Limited financial resources Liability Unlimited Liability Tax implications No corporate income taxes Income tax deduction of business losses Management and control Self control of all operations Limited management resources Transferability Limited life (lack of continuity) Others Freedom, pride pressure Partnership A business that is owned and run by two or more people who share responsibilities, profits, and unlimited liability An association of two or more persons to carry on a business as co-workers for profit Partnership Advantages Disadvantages Formation Easy establishment Source of funding Combined financial resources Easier financial capital Liability Unlimited Liability Tax implications No corporate income taxes Management and control Combined managerial skills and shared responsibilities Transferability Extended life Potential lack of continuity; difficult ownership transfer Others Possible interpersonal conflicts Franchise  The practice of using another firms successful business model Advantages/Disadvantages Reading: We wanna hold your hand Speaking: Planning a seminar 1.Identify the purpose of the seminar. By doing so, you will know how to promote the seminar. 2.Determine a date, time and location for your seminar. You should be sure to set up an established contract for your event so that all of the responsibilities of the venue are defined at a specific price. 3.Develop an invitation list that focuses on your target audience for the seminar. Create the invitation and send it out to the potential attendees at least one month in advance if not before. Include a method for attendee registration and confirmation of registration. 4.Establish the seminar agenda, presentations an