Question

This Course is actually Introduction to Business

Assignment Details

You are about to start your own business and have many decisions to make. Dream big and become an entrepreneur. Before you can start your business, you need to think about the business form you will use in order to address the issues of risk, taxes, and management practices. As we learned in Unit 1, there are various types of business such as sole proprietorship, partnership, and corporations.

Then share the information about your selected form of business with your peers in your main post. Include the following:

Business name

Service or product 

Form of business

Rationale for the form of business

Answer 1

Hi all I takes pleasure of announcing the new formation of Restaurant in Delhi specializing in food delivery service and catering also.The name of the Restaurant is "Oryx Village".We offers an experience beyond a normal restaurant with a serene  atmosphere, cheerful lighting and fabulous menu.Fresh  ingredients  and authentic traditional recipes create delicious dishes that will linger your taste buds.

In a calm,elegant ambiance together with polite service ,enjoy a lively ,comfortable environment with a space for a family dine-out.

I start this as sole proprietorship business.That is the all responsibilities of this business is belongs  to me. A business that legally has no separate  existence from its owner.Income and losses are taxed on the individual"s personal income tax return.It is the simplest business form under which one can operate a business. A person who owns the business and is personally responsible for its debts.

Choosing a sole proprietorship is relatively simple process. A sole proprietorship has no formal paper work requirements unless have to file for state or local business registration or professional licensing. sole proprietorship usually have to pay self employment taxes on the earnings, don't have much rigorous record keeping and tax computing to worry about, don't have invest enough money to another structure.

The important decisions of our business going it along as a sole trader gives you that freedom.