Visit the U.S. Small Business Administration website. Under the “Starting and Managing” tab, click the “Choose Your Business Structure” link. Different business structures will be listed there.
If you were to start your own business, which business entity structure would you choose? Justify why the chosen business is the best organizational form.
Explain the following business structures: sole proprietorship, partnership, LLC, and a corporation. In your analysis address the following for each business structure:
- Steps to form.
- Personal liability for owners.
- Advantages and disadvantages.
Your paper must be two to three pages in length (not including title and reference pages), and it must be formatted according to APA style as outlined in the approved APA style guide. You must cite at least two scholarly sources in addition to the textbook.