Business Studies unit 1
- 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
- More than one owner
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