Three Business Structures are:    Proprietorship, an unincorporated business owned by one person. Partnership, an unincorporated business owned by two or more people. Corporation, a separate legal entity owned by one or more shareholders     CONSIDERATIONS: The Corporate accounting records will have an account called the Shareholder loan account which will keep track of funds Due from and Due to the shareholder. If incorporating ensure all invoices are in the corporation’s na

THE TWO OBJECTIVES OF A BUSINESS ARE: 1. MAKE A PROFIT 2. SATISFY THE CUSTOMER/CLIENT Five Steps to Business Success   1.     Product/Service, Marketing, Branding and Growth: a)     Product/Service: The first step to a successful business is providing a quality product/service that is needed and or wanted by customers/clients. Is the sale one time or recurring in the future? If a recurring sale, how often? Is the product/service unique, different, solve a problem, for a niche

Business Sense is the knowledge and understanding of the financial, accounting, marketing and operational functions of a business. It is...

Why doe person become a business owner? They do not want a boss, want to control their own destiny, want independence, want to choose...