Posts Tagged ‘ Small Business ’

What different forms of business entities are available for you to choose from in forming an architectural practice in California? List one positive and one negative aspects of each?

a. Sole proprietorship i. Positive – simplifies decisions and allocation of responsibilities ii. Negative – personal liability b. General partnership i. Positive – no local or state filings are necessary to create ii. Negative – personal liability c. Limited Liability Partnership i. Positive – limited personal liability ii. Negative – limited partner can’t make...

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After this project is complete, your firm decides to seek more historic preservation projects. What 3 parts of your business plan would you modify?

a) Mission statement – “Our firm will strive to protect and restore the historic fabric of our city” b) Marketing strategy – Experience in historic preservation – design and consulting c) Portfolio – Demonstrate extent and quality of services provided http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/index.html

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Types of legal business entities

1. Professional Corporation – Corporations Code 2. Limited Liability Partnership – Each shareholder, director, and officer must be a licensed architect 3. Individual architect 4. Normal corporation

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