Sole proprietorship

INTRODUCTION: In Zimbabwe, Business environment has tremendously changed and enhancement in quality has become one of the essential strategies that are being implemented by many small and medium enterprises(SMEs) in order to achieve organisational competitive advantage. Total Quality Management (TQM) is based on that all organisation staff and employees should collaborate with each other for the purposes of producing high quality products and services in order to meet customers' demands(Whyte…

are, what happens when there is a death or withdrawal of an owner, the environment of management control, the ease of raising more capital and the income tax related with the businesses earnings/losses. The simplest form of ownership is the Sole Proprietorship (SP), it is an unincorporated business operated by the owner in their single ability.…

Life is an extremely valuable possession; however, what is the value of this sole proprietorship? Is it $100,000? Is it $1,000,000? Or is it $100,000,000? The fact of the matter is that the true value of life is what one’s self puts on it. Life is as precious as a pretty pearl: simple, yet significant. In the world, many people do not protect their lives as safely as they should. In short, people take their lives for granted. On the other hand, other’s protect it with all of their efforts. Both…

At first glance, the term “ownership” may be seen as an adamant word with an unyielding definition; the possession of an object. Individuals don't give much thought. Yet, there are various dogmatic connotations that provide different interpretations towards the matter. Ownership is a complex term that can infer to both tangible and intangible items that extend far beyond the simple text book definition. Ownership can be used when referring to one's concept of thoughts, adept skills, or…

within the day-today operations, leaving Josh to lead the business with the day-to-day operations. A sole partnership advantages include, creation is easy, proprietor is in total control of management, proprietor keeps all profits. Disadvantages include Proprietor is personally liable for all losses, funding is limited to personal funds and loans (Dynamic Business Law, 2016). I do not feel a sole partnership would be possible in this case as there is more than one proprietor in this business.…

The dynamics of agriculture and the methods of food production continue to evolve and change with the growing globalization of the world. Whereas, the small family farms once supplied the food necessities of the population, now the larger more industrialized operations take precedence over this domain. According to Hoppe (n.d.), the small family farms remain the leading component in the overall count of farms in the United States, as well as, accounting for approximately half of the farmland,…

Assignment 2 Institutions have been ubiquitous in the human experience, since the first civilizations. From simple councils of wise men in prehistory, to the deep rooted bureaucracy of the American executive, they have been indispensable in the carrying out of everyday life. Unger and Johnson both stress the importance of institutions- Unger because they can be used as tools to enhance democracy in markets, politics and empower individuals- Knight/Johnson because they should prioritize…

Introduction In this reflection, I will focus on some important topics such as, what I learned about individual and business taxation from this course, what was my experience with the group project and what were the challenges that I faced during both the group project and this course. I am also going to add some main overall points that I learned. Tax is generally an amount of money that is charged by a government on a product, income, or activity so that it can pay for public services. In…

formula. The essence of achieving greatness is simple, but why many businesses fails is because of the lack of “relentless commitment to hard work, practice, and perpetual endurance...” (1) It’s easy to start a business, especially if it 's a sole proprietorship or partnership; the challenge is sustainability, growth, and profitability. The main lesson of this article aims to inform reader what drives a business towards greatness how it’s carried out, and the role of corporate governance and…

Primarily, every corporation in this world has to make important decisions concerning their licensures, rather to be listed as a Sole proprietorship, LLC, Corp., Profit or Non Profit (NPO) 501c3. (FoundationGroup.com) Vesco chose to be a nonprofit 501c3 organization because of our unique vision and goals to provide services to the underprivileged and path to simply feed the hungry. We…