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Businesses with unlimited liability
Owners are liable for any debts incurred by the business, even if this requires them to sell all their assets and possessions
and become personally bankrupts.

Sole Traders
One individual who can employ other staff, they own and operate the business.
You make all decisions, although…

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When a private limited company expands to the point of having share capital of more than £50,000; it can convert to a public limited
company.
It can be floated on the stock market, which allows the public to buy shares.
This increases the company's access to share capital, which enables…

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