Types of Ownership 4.0 / 5 based on 3 ratings ? Business StudiesOwnership and controlGCSEWJEC Created by: Amy LewisCreated on: 26-04-13 17:40 Sole Traders One Person, owned, controlled, runs the business ADV keep all profit make all descions work own hours DIS Unlimited liability stressful need to be good at everything 1 of 5 Partnerships 2-20 People DEED OF PARTNERSHIP ADV more skills more money to put in the business share decisions (better) share work load DIS Unlimited liability share profit arguements (share control) 2 of 5 Social enterprise Aimed to help people and society (eg. the Big Issue) 3 of 5 Private Limited Company Shareholders own it people who are invited can buy shares (friend & family) ADV Limited liability (dont lose personal possesions) not personally sued less risky easier to borrow from banks DIS share profit with share holders (dividend) longer to set up more costly to set up 4 of 5 Public Limited Company Shareholders own it anyone can buy a share ADV access to finance through shares well known, big reputation limited liability people want to work for you DIS taken over- 51% shares lose control expensive to set up need £50.000 5 of 5
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