Legal structures of business

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  • Legal structures of business
    • Sole Trader +
      • your own boss
      • Easy to set up
      • Make your own decisions
      • keep all the profirs
    • Partnership +
      • Share skills
      • Share work load
      • More sources of finance
    • Sole trader -
      • Heavy work load
      • Unlimited liability
      • Difficult to take a holiday
      • May lack finance
      • May not have all the skills needed
    • Partnership -
      • may have disagreements
      • Liable for the actions of the other partners
      • Unlimited liability
    • PLC -
      • have to register
      • have to disclose information on sales
      • Have to have accounts independently checked
      • If there are other investors the original founder is not in full control
    • PLC +
      • Can bring in investors
      • Better status in the eyes of some customers
      • Limited liabilty
      • Continues after death of the founders



Anything about corporate and unincorporated businesses?

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