Griffin | Entrepreneurship
Resume Table of Contents  


Intrepreneurship Intro

State Standards
  • E 9.1 Content Standard: Students investigate the nature of small business and entrepreneurship.
  • E 9.1.1 Define entrepreneurship
  • E 9.1.2 Explain why individuals become entrepreneurs
  • E 9.1.3 Explore behavioral characteristics and traits of an entrepreneur
  • E 9.1.4 Examine motives for starting your own business
  • E 9.1.5 Assess the advantages of owning a business versus working for someone
  • E 9.1.6 Categorize types of businesses
  • E 9.1.7 Assess and evaluate the various ways to start your own business

  • E 9.2 Content Standard: Students understand the functions involved generating business/product ideas to contribute to business success
  • E 9.2.1 Identify business/product opportunities (PM:134) (SP)
  • E 9.2.2 Identify methods/techniques to generate a product idea (PM:127) (SP)
  • E 9.2.3 Generate business/product ideas (PM:128) (MN)
  • E 9.2.4 Determine initial feasibility of business/product idea (PM:129) (MN)
Chapter Objectives
  • Identify the advantages and disadvantages of purchasing an existing business.
  • Explain the steps involved in buying a business.
  • Recognize the advantages and disadvantages of joining a family business.
  • Evaluate the different legal forms for a business.
Why learn about ownership (and taxes)?
  • When you start your business you have to choose a business form. (So you have to do it.) Each have specific advantages and disadvantages. Knowing the right form of ownership can make a big difference in time, effort and money.
  • Taxes suck and are one of the biggest shocks when you become a business owner. You need to know how to protect yourself from paying BIG taxes.
1. Ownership

Ownership Power Point

  • Types of Ownership
    • Purchase an Existing Business (including a Franchise)
    • Start a Business from Scratch
    • Enter a Family Business
  • Advantages of purchasing an existing business
  • Disadvantages of purchasing an existing business
  • Steps to purchase a business
  • Family Businesses
  • Starting a business from scratch
  • Business Tax
    • Employment Tax
  • Personal Tax
    • Federal, State and Local
    • Taxable Income
  • Legal forms of business
    • Sole Proprietorship
    • Partnership
    • LLC
      • Sole Proprietor or Partnership
      • Hilbert Estate (Map, WSJ, Video)
    • S Corporation
    • Corporation (C-Corp)
  • Taxable Income Story Problems
  • Income Tax Story Problems
  • Employment Tax Story Problems
    • Sole Proprietorship Story Problems
    • S-Corp Story Problems
  • Corporation/Stock Story Problems

Ownership Notes






Optional Complete the Online Study Guide


Ownership Test

  • 50 PTS
  • 16 T/F
  • 15 M/C
  • 12 Short Answer/Story Problems

Ownership Quiz/Test



Additional Resources