Business studies unit one test

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  • Business studies
    • Ownerships
      • Soul trader
        • A soul trader ownership is when you are in total controll of your business- but you can still employ other people
        • Advantages
          • -you get all the profits (unless you hire someone)
          • -You get full controll other desicions
          • There are no fee's and no paperwork
          • You are your own boss
          • Work your own hours
        • Disadvantages
          • You will be the one that's sued -  meaning you could loose your belongings e.g house, car etc.
            • Unlimited liabilty
          • You business could go either way meaning that there is no security
          • You have to work longer hours to keep the business going.
      • Partnership
        • Maximum number - 20
        • Minimum - 2
        • Advantages
          • You can share the dept and expenses
          • More skills involved with the business
          • Less work hours
          • Don't have to do everything yourself
          • Holidays
        • Untitled
        • Disadvantages
          • You have to share all the profits.
          • You cant make all the dessicions yourself.
          • Unlimited liabilty
          • You could disagree
          • You must statehow the profits are gonna be shared with the government, meaning paper work
      • Private limited Company
        • Is where your business includes shares, with this being a Private limited company you can only sell your shares to family and friends (you can't advertise)
          • If the company does well the share value goes up, meaning the people selling them get more profit and the people buying them get more income
          • However ifthe company does bad then the selling price drops and the income drops, affecting both the share sellers and the share holders
        • Disadvantages
          • Growth could be limited as the maximum amount of shareholders in only 50
          • The shares can not be sold or given to anyone else without the other share holders permission
        • Advantages
          • Limited Liability
          • Business not affected by the status of it's owner
          • Minimum amount of shareholders when starting is only 2
    • Franchisers
      • A franchise is a global company that are looking for people to buy into the business and open anothershop somewhere of that company helping the globalistation of it expand
      • Franchise - the business
      • Franchiser - the business that offers franchisers
        • Advantages
          • More of a public image
          • Fund expansion for little risk
        • Disadvantages
          • Less overall profit
          • may not have enough controll to prevent franchises damaging the reputation of the franchise
      • Franchisee -the person who buys into the business and takes on the business
        • Advantage
          • Recieve support and help from the franchisor
          • no competition
          • not as much responsibilty
        • Disadvantages
          • Less controll
  • -you get all the profits (unless you hire someone)
  • Franchisers
    • A franchise is a global company that are looking for people to buy into the business and open anothershop somewhere of that company helping the globalistation of it expand
    • Franchise - the business
    • Franchiser - the business that offers franchisers
      • Advantages
        • More of a public image
        • Fund expansion for little risk
      • Disadvantages
        • Less overall profit
        • may not have enough controll to prevent franchises damaging the reputation of the franchise
    • Franchisee -the person who buys into the business and takes on the business
      • Advantage
        • Recieve support and help from the franchisor
        • no competition
        • not as much responsibilty
      • Disadvantages
        • Less controll

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