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Forms of Business Organization. 

We constantly hear the word «business» and often mean different concepts by it. However let us turn to the factors. What contribution private business makes to the country economis? It provides more than 75% of jobs. It facilitates emergence of 75% of new inventions. It annually pays out billions of dollars as income tax. It invests millions of dollars in art development, new museums appearance, new activities conduction each year. It annually donates billions of dollars to higher education. Whether it is good or bad, the figures speak for themselves. There are 3 forms of business organization: individual enterprise, partnership and corporation.  
Individual enterprise determines its activity place and invest its own capital in business. All it needs is to have sufficient means to start business and to know local laws. This form of business organization is the simplest and cheapest one.

Individual Enterprise Advantage.
It is the easiest business to start, the cheapest to organize, and also it is the most flexible structure since all full powers in your hands.

Individual Enterprise Disadvantages.
There is unlimited personal liability for debts and responsibilities before the law, instability (your illness or death) in it — everything is threat to your business, burden, responsibility, limited resources; it is easy to confuse personal affairs with business.