Business Organization
One should consider several factors when selecting the best form of business ownership. The type of business organization one selects can have an impact on various aspects such as taxes, liability, and exit strategy. If I were to start a business I would choose a sole proprietorship. In sole proprietorship, the proprietor owns and runs the business and is accountable for all the transactions carried out. A sole proprietorship is the best business organization because the owner has whole regulation and decision making authority over the business. A sole proprietorship is the best business structure because one can maintain business privacy since there is no requirement to file annual reports with the state or federal government. Additionally, the owner can operate the business for any period of time and vend it or transfer at his/her discretion. In sole proprietorship, there are no explicit taxes paid by the business.Instead, the owner remits levies on income from the business as p...