Bus100 Creating, Financing, and Marketing a Business

Creating, Financing, and Marketing a Business

BUS100

5/29/2013

Identify the pros and cons of the partnership as a form of ownership. Discuss funding options for small businesses. Determine and discuss how managerial accounting can help managers with product costing, incremental analysis and budgeting. Discuss the basic components of the marketing process using a product or service of your choice as an example. Discuss the roles of social responsibility and technology in the marketing function. |

A partnership as a form of ownership is formed quite simply. When two or more people get together and come to an agreement on what type of business to take part in, then all parties share investment, profit, and of course loss. Let’s discuss the pros and cons of a partnership.

Pros, one of the many things all investors would like to see out weight the cons in anything they are engaged in mentally, physically, and of course financially. First of all, one pro would be how easy it is to create a partnership. You simply get with at least one other person come to an agreement over all the business details, and “BAM” you have a partnership. Some people are comfortable in verbal agreements but I personally would suggest you get all your partnership details on a written legal document just in case.

Funding is another advantage to a partnership. When two or more people come together to form a business partnership money is invested from all parties involved in turn the business has a stronger financial backing to support it. Not only will the business have a strong financial backing all partners invested may have access to outside money to support the business even further along.

One of the best advantages in being in a business partnership is shared responsibility. Shared responsibility is crucial in a successful business and of course partnership. When the business starts to get a bit heavy you can hand it to your partner or partners to carry the work load for a...