Business Ownership

1.)Think for a moment about a business you patron, it can be anything from a large retailer to a small store or service organization. Once you have identified your profile company, please provide the following:

• The name of the organization.
• The type of industry it is in.
• The markets it serves (geographically.)

Then, please identify the type of business structure the organization has (sole proprietor, partnership, corporation, etc.

• Note: If your profile company is a large organization you should be able to easily find this information on-line and provide a source. If it is a small local business, you should still be able to locate this information, but if you cannot please make a note of this and then provide what type of business structure you think the organization has and why.

Please answer this question in two to four paragraphs with supporting reference. Finally, please highlight what you see as the pros and con’s of the organization having this structure.

2.) Did you know over 50 % of small business fail within the first year and over 95% in five years? With that in mind, you have just been promoted to a new role as an “Entrepreneur Business Coach” and I am your first client. I am looking to start a small firm that will make an innovative new product called The Widget.

Please give me your best advice to maximize the chance that I will still be in business a year from now.

Please answer this question in two to four paragraphs with supporting reference.