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UNIT 1 ­ INVESTIGATING PEOPLE AT WORK

Business Ownerships

Sole traders ­ owned by one person
Advantages include:

All profits are kept by the owner
Full control
Less complicated to set up
Has more flexibility ­ e.g. taking holidays/time off work

Disadvantages:

Unlimited liability ­ lose all their money/assets if…

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PLC ­ Public limited company
Advantages:

Capital can be raised
Limited liability
Has high dominance in the market due to size

Disadvantages:

Takeover ­ as shares are sold to public on stock exchange
Public can see accounts
Complex to set up
Disagreements between owners

Co-operatives ­ general info

Must be…

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