Business - Ownership

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  • Created by: sophie
  • Created on: 08-01-13 15:34

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

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