Ch5 Flashcards
Master limited partnership
Much like a corporation with stocks but with no corporate tax
Limited liability partnership
Limits the disadvantage of having unlimited liability by protecting you if one of you’re coworkers is at fault
S corporation
A unique government creation that looks like a corporation but is taxed like sole proprietorships (no more than 100 stock holders)
Cooperative
Owned by the people who use it. Mr.odonnells example
Affiliate marketing
Internet based marketing strategy in which business rewards individuals for each visitor the customer sends to its website
Enterprise zones
Governments lower taxes to attract business to these areas
Incubators
Offer new companies low cost offices with basic business services
Required to start a business
Management Financial resources Location Marketing plan Manufacturing plan
Venture capitalists
Individuals or companies that invest in new businesses in exchange for partial ownership
Service corps of retired executives
An sba office with volunteers from an industry who counsel small businesses for free
Small business administration
Gov agency that advises small businesses
Small business investment company
Private investment companies lend money to small companies
Sole proprietorship
Ease of starting/ending a business Bring your own boss Pride of ownership Leaving a legacy Retention of profits No special taxes Unlimited liability Limited financial resources Time commitment Few fringe benefits Limited growth Limited life span
