How entrepeneurial are you?

• Economie
• Middelbare school
• vwo
• Leerjaar 2,3

Chapter 4 How entrepreneurial are you?

4.1 Your own company?

What are we going to do today?

• today's learning goals
• instruction
• work on your homework for next lesson

Learning goals

• you can describe different forms of business organisation.
• you can explain how legal liability depends on form of business organisation.
• you know the difference between employer and employee.
• you can give examples of (non) commercial organisations.

Which form of business organisation do you choose?

• sole proprietorship
• general partnership
• limited liability company
• corporation

sole proprietorship

Eenmanszaak

You are the sole owner of your enterprise.

You can hire staff but you are the owner.

Sole proprietorship = natural person

general partnership

Vennootschap onder firma

When you start a company with one or more partners you can choose a general partnership.

a general partnership = natural person

limited liability company

Besloten vennootschap

You can start a llc yourself or with a partner. The difference between a llc and a sole proprietorship or general partnership relates to the legal liability

limited liability company = legal body

Corporation

Naamloze vennootschap

Stocks of a corporation are bought and sold on the stock exchange.

Corporation = legal body

What's the difference between a natural person and a legal body?

Natural persons

The sole proprietor or partner are personally liable for business debs. The owners pay income tax on profit.

Legal body

In case of business debs, the company is liable. Legal bodies pay corporation tax.

How do we call people who work for a company for a wage or salary?

1. an employee
2. an employer

What's the main goal of a commercial organisation?

Give an example of a commercial organsation.

Please, start working on your homework for next lesson.

Finish assignment 2 up to and including assignment 10.