Business - Ownership

Partnership - owned by 2 or more people

Advantages

• Allows specialisation
• More finance
• Cover for absence
• Share decision Making

Disadvantages

• Unlimited Liability
• May be disagreements
• Profits have to be shared

Sole Trader - small business usually only one person

Advantages

• Make all the decisions about the business
• Low set up costs
• Easy to strart the business up

Disadvantage

• Unlimited liability
• Stressful
• Lots of responsibility
• Limited finance

PLC - Public Limited Company - owned by shareholders, shares can be…