Challenges that may be faced in operating an LLC in a Planned Economic System

Choose a type of small business that would be your dream business, tell the type of business, such as florist, online sales site, restaurant, auto-parts retail store, etc. Name your business - your choice! Be careful to explain what need or service the business addresses, name the specific participants in the business, and discuss the specific inputs and outputs necessary for the business. Second Paragraph: Using the advantages of the LLC tell why this would probably be most advantageous for you. Include all the key advantages of the LLC, but also one disadvantage of each of the other forms; proprietorship and corporation, and relate them to your chosen business. Third Paragraph: Fully explain the challenges that may be faced in operating an LLC in a Planned Economic System, including the freedoms the business might enjoy as well as the road blocks it might face. Think carefully here! Be sure to also describe the challenges a business may avoid by locating within a mixed economy.