Economic Decisions and Systems:
1. GoPro is satisfying the “want” of a compact, heavy-duty, durable, and quality wearable camera of many consumers across the world. This camera allows for on-the-go video recording with stunning resolutions, offering the same quality that many professional cameras use. Although this item is not a “need,” or necessary to live, it is highly sought after by consumers of all ages.
2. GoPro states that as of September 30th, 2015, they had 1,460 employees. This is a large business, as the average U.S. threshold for a “large business” is 500 employees. GoPro exceeds this threshold with flying colors.
Economic Activity:
1. As of January of 2016, GoPro’s stock sits at $17.00 ($GPRO), which is an all-time low for the company. One could argue that this “recession,” or …show more content…
The positives of starting a business as a sole-proprietor would be that the owner is in full control, both financially and of the company. A sole-proprietor is financially responsible for the company, which can be a negative aspect, especially if a company fails – thus making the owner completely responsible for paying back all debts. A partnership benefits the company as the partners can equally contribute to and invest in the company, resulting in more capital in the business, however, a partnership can get out of hand when one partner is contributing less to the business than the others, even though both partners are personally (and equally) liable for the company’s debt and expenses. A corporation declares the company as an individual entity and protects the owner of the company if it failed (not responsible for the debts). I would suggest starting a business as a sole-proprietor until the business started earning large profits, then I would register the company as a corporation for the limited-liability benefits offered. The most appealing aspect of upgrading to a LLC company is the protection offered if the business was to fail (not personally responsible for the
1. GoPro is satisfying the “want” of a compact, heavy-duty, durable, and quality wearable camera of many consumers across the world. This camera allows for on-the-go video recording with stunning resolutions, offering the same quality that many professional cameras use. Although this item is not a “need,” or necessary to live, it is highly sought after by consumers of all ages.
2. GoPro states that as of September 30th, 2015, they had 1,460 employees. This is a large business, as the average U.S. threshold for a “large business” is 500 employees. GoPro exceeds this threshold with flying colors.
Economic Activity:
1. As of January of 2016, GoPro’s stock sits at $17.00 ($GPRO), which is an all-time low for the company. One could argue that this “recession,” or …show more content…
The positives of starting a business as a sole-proprietor would be that the owner is in full control, both financially and of the company. A sole-proprietor is financially responsible for the company, which can be a negative aspect, especially if a company fails – thus making the owner completely responsible for paying back all debts. A partnership benefits the company as the partners can equally contribute to and invest in the company, resulting in more capital in the business, however, a partnership can get out of hand when one partner is contributing less to the business than the others, even though both partners are personally (and equally) liable for the company’s debt and expenses. A corporation declares the company as an individual entity and protects the owner of the company if it failed (not responsible for the debts). I would suggest starting a business as a sole-proprietor until the business started earning large profits, then I would register the company as a corporation for the limited-liability benefits offered. The most appealing aspect of upgrading to a LLC company is the protection offered if the business was to fail (not personally responsible for the