Business Studies

Sole Traders And Partnerships

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Sole Traders

Sole Traders:

  • Unlimited Liability
  • Only One Owner
  • Take All The Profits
  • Have To Bear All Losses
  • Do Not Have A Range Of Skills
  • Have To Make All Decisions By Themselves
  • Sole Traders Accounts Are Kept Private
  • They Do Not Get Any Holidays
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Partnerships

Partnerships:

  • Unlimited Liability
  • Can Have Between 2 And 20 Partners
  • Partners Can Have Arguements
  • Can Share Skills And Ideas
  • Accounts For Businesses Are Also Kept Private
  • Can Have A "Sleeping Partner" Who Just Invests In The Business But Make No Decisions
  • May Have Deed Of Partnership or Profits Are Split 50:50
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Comments

~>>Anisah<<~

lol thank u..4 the basics...of partnerships and sole traders!

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