Chapter 4 End Page

Recap

Most start-up businesses select one of these major ownership forms. In this chapter we discovered the advantages and disadvantages of each form of business ownership and the factors that may make it necessary to change from one form of organization to another as the needs of the business change. As a company expands from small to midsize or larger, the form of business structure selected in the beginning may no longer be appropriate.

Resources

1. Which Fortune 500 company had the biggest revenue increase? The highest profits? The highest return to investors? What is the largest entertainment company? Get all the details on U.S. companies at http://www.fortune.com/fortune500.
2. Confused about the differences between regular corporations, S corporations, and LLCs? Compare these three business structures at http://www.4inc.com.
3. Did you know U.S. cooperatives serve some 120 million members, or 4 in 10 Americans? For more co-op statistics, check the National Cooperative Business Association website at http://www.ncba.coop/.
4. Combine your sweet tooth with your good business sense by owning a candy franchise. Indulge yourself by finding out the requirements for owning a Rocky Mountain Chocolate Factory franchise at http://www.rmcf.com.
5. Want to know what’s hot and what’s not in franchising? Improve your chances for success at http://www.entrepreneur.com/franchises.

Looking Ahead

Next week we will cover Entrepreneurship: Starting and Managing Your Own Business