Let's turn this church into something useful!

Like a small business!

LET'S START A PARTNERSHIP!

A partnership is an arrangement where parties,

 known as business partners, agree to cooperate

 to advance their mutual interests.

One advantage of a partnership is shared cost and liability!

But one disadvantage is that we have to share profits.

What if I did this on my own? I could keep all the profits, but what if it fails and I lose all my money?

A sole proprietorship is a type of business owned and 

operated by one person!

So they ran their business as a partnership selling candies!

Can I get one sucker please?

This business is doing great. WE'RE RICH!

Wow! You guys are making so much money! You should turn your business into a corporation!

A corporation is a company or group of people 

authorized to act as a single entity (legally a person) 

and recognized as such in law.

One advantage of a corporation is personal liability protection!

One disadvantage of a corporation is it is subject to double taxation.

To start a corporation you will need a charter.

A charter is a written document filed with the Secretary of 

State by the founders of a corporation.