LESSON 14

presentation by group 5
Deciding what form of
ownership is to be
adopted is another
decision that an
entrepreneur must
choose.
Sole proprietorship is a form of
business organization initiated,
owned and managed by one person.

Most business owned by

single proprietors.
Owner can make the owner lacks
all the decisions the ability and
about the experience to run
business without the business.
considering other unlimited liability,
people. limited capital and
difficulty in getting
additional capital.
a partner can Unlike corporation,
share ownership partnership has
and management limited regulation
of the business. and taxation.
having unlimited
liability, liquidation
problems and
tenuous existence.
 Corporation is legally
chartered business
that is described to be
invincible, tangible
and exists in the
contemplation of law.
has limited liability owners must take
into consideration
easy to attract the drawbacks
investors
more expensive
has lengthier life
and complicated
that can be
to start.
extended up to 50
years or longer. has a lot of
requirements
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•
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Once an individual decided to pursue his
business, he must comply with the
requirements needed for the venture. He
must see to it that he is updated with the
administrative rules and policies of the
government agencies to start with the
business.
1. Mayor’s Permit
2. Building permit
3. Sanitary permit
4. Cigar and liquor permit
5. NBI clearance
6. Police clearance
7. Barangay clearance