Business Studies unit 1

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  • Created by: study4321
  • Created on: 25-02-18 18:16
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  • Partnerships
    • More than one owner
      • Minimum two maximum 20
    • Set up to:
      • Gain finance for expansion
      • Shared responsibility
    • Should set up a deed of partnership
      • Settles disputes
    • Advantages
      • Increased finance available
      • Shared workload- also helps with decision making
      • Increased specialisation
      • Accounts can be kept private
    • Disadvantages
      • Unlimited liability
      • Requires a lot of trust- one action affects all others
      • Can lead to disputes
      • no legal continuity of exsistence

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