ERIC Number: ED393533
Record Type: Non-Journal
Publication Date: 1995
Reference Count: N/A
The New Youth Entrepreneur: Types of Business Ownership. Module 7.
Kourilsky, Marilyn; And Others
The New Youth Entrepreneur curriculum is a series of 12 youth-oriented educational modules containing instructional materials, learning activities, and checkup exercises designed to teach students key elements of entrepreneurship. This document is the seventh module, and examines the potential advantages and disadvantages of entering into four different types of business ownership. The first section focuses on sole proprietorships, examining advantages related to the ease of start-up, being the boss, and the ability not to share profits, as well as disadvantages related to individual liability for all debts, the danger of mixing personal and business finances, and difficulty in obtaining loans. The second section discusses advantages and disadvantages of partnerships, while the third section describes corporations and their structure, indicating that they are composed of shareholders, a board of directors, officers, and other employees. This section also describes advantages of corporations, including limited liability, and disadvantages, including increased expenses at start-up and increased taxation on profits. These three sections also provide strategies for avoiding the problems discussed. The final section briefly describes cooperatives and how they differ from corporations. Sample case studies are included. (CELCEE, an Adjunct ERIC Clearinghouse on Entrepreneurship Education) (MAB)
Descriptors: Administrative Organization, Business Education, Business Skills, Corporations, Entrepreneurship, Late Adolescents, Learning Activities, Ownership, Self Employment, Small Businesses
EDTEC Education, Training, & Enterprise Center, Inc., 313 Market Street, Camden, NJ 08102.
Publication Type: Guides - Classroom - Learner
Education Level: N/A
Authoring Institution: Ewing Marion Kauffman Foundation, Kansas City, MO. Center for Entrepreneurial Leadership.; Education, Training, and Enterprise Center, Inc., Camden, NJ.