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NASCLA Contractor's Guide, NASCLA Contractors Guide Solutions Updated 2024

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NASCLA Contractor's Guide, NASCLA Contractors Guide Solutions Updated 2024 3 elements of a business plan - ANSWER--cover page -executive summary -company summary -products and services -market analysis -marketing strategy -financial plan advantages of sole proprietorship - ANSWER--minimal...

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  • November 11, 2024
  • 10
  • 2024/2025
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NASCLA Contractor's Guide, NASCLA

Contractors Guide Solutions Updated

2024


3 elements of a business plan - ANSWER✔✔--cover page


-executive summary


-company summary


-products and services


-market analysis


-marketing strategy


-financial plan


advantages of sole proprietorship - ANSWER✔✔--minimal legal restrictions


-simple ownership form


-low start up costs


-sole ownership of profits


-freedom in decision making process


disadvantages of sole proprietorship - ANSWER✔✔--unlimited personal liability




Copyright ©Stuvia International BV 2010-2024 Page 1/10

, Copyright © OLIVIAWEST2024/2025 ACADEMIC YEAR. ALL RIGHTS RESERVED


-less available capital


-possible difficulty obtaining long-term financing


-dissolution of the business on the even of the owner's death


who has limited liability in the company? - ANSWER✔✔-limited partners


advantages of a general partnership - ANSWER✔✔--ease of formation


-direct profit rewards


-larger management base than that of a sole proprietorship


disadvantages of a general partnership - ANSWER✔✔--unlimited personal liability of general partners


-multiple decision makers


-limited life of the business


-changes of partners or partnership agreement may be difficult


-partnership dissolves in the event of the death of a general partner


bid documents - ANSWER✔✔--invitation to bid


-bid instructions


-bid forms


-supplements


what is an invitation to bid - ANSWER✔✔-gives a brief overview of the project, deadlines, and general

requirements


bid instructions - ANSWER✔✔-contain specifics of how the bis should be completed and submitted

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