Business: Section 1 (Partnerships) - Advantages and disadvantages table in GCSE Business Studies

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Created by: Georgia Vyse
Created on: 21-03-14 16:55

Business: Section 1 (Partnerships)

Advantages

More owners means more ideas and more people to share the work.
More owners also means more capital that can be put into the business.

Disadvantages

Each partner is legally responsible for what other partners do.
Most partnerships have unlimited liability , some however have limited.
More owners means more disagreements. You're not so much your own boss.

Evaluation

Partners have an equal say in making decisions and an equal share of the profits - unless they have an agreement called a deed of partnership which says different.

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