ENTREPRENEURSHIP

Detailed explanation-1: -Advantages of a partnership include that: two heads (or more) are better than one. your business is easy to establish and start-up costs are low. more capital is available for the business.

Detailed explanation-2: -Advantages. A general partnership is less expensive and easier to set up than a corporation or limited liability partnership (LLP). Less paperwork is involved.

Detailed explanation-3: -it’s less expensive to form and run than a limited liability partnership, which has certification costs and more complex tax requirements. the tax responsibilities are simpler than a corporation’s-profits and losses are passed through to the owners, who report them on their individual tax returns.

Detailed explanation-4: -Limited-Liability Companies This form provides business owners with limited liability (a key advantage of corporations) and no “double taxation” (a key advantage of sole proprietorships and partnerships).