Starting and Naming a Business (Administrative Law and Government Research Paper

Starting and Naming a Business (Administrative Law and Government Regulation) - Research report ExampleThrough franchising, the business will be associated with well developed brands and reputation. Disadvantages franchisees usually have to crop according to the operations rules of the franchisor. Franchisees argon required to pay ongoing fees to the franchisor. There is less control specially while selling the business, since there are procedures to follow (Pride, Hughes & Kapoor, 2011).The following are the disadvantages and advantages of a sole proprietorship. Advantages it is wakeful and uncomplicated to start this form of business. There are few formal commerce requirements. There is take aim motivation since the entrepreneur assumes all risks and earns all the profit. There is better control since the entrepreneur is the sole conclusiveness maker. There are minimal legal expenses for starting sole proprietorship. There are no troupe tax payments. Disadvantages the entrepr eneur make all business decisions and assumes all responsibilities of the business, including business liabilities in case of insolvency. Entrepreneurs whitethorn experience difficulties while raising cash needed to start and sustain a business (Pride, Hughes & Kapoor, 2011). accord to Pride, Hughes & Kapoor (2011), the following are the disadvantages and advantages of coalitions. Advantages there are no prescribed requirements for the formation of a partnership. There are no prescribed requirements for the business operations. Therefore, it is inexpensive to operate partnerships. Partners are taxed individually, and this may result to lower taxation. Disadvantages partnership is not a separate lawful entity implying that partners are, in their individual capacity, accountable for the business debts. The death of a partner may result to termination of the partnership. There may be difficulties in the decision qualification process.The following are the disadvantages and advantages of a corporation.