Types of businesses
- Created by: Olivia Toomba
- Created on: 21-01-13 16:28
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Type of business Organisation
Possible sources of finance
Key issues for consideration
Sole Trader
Owner’ savings, banks, suppliers, government grants and loans
· Security for those lending funds
· Loss of control by owner
· Evidence that business has potential to develop
· Financial history of business/owner
Partnership
Partners’ savings, banks, suppliers, government grants and loans, hire purchase and leasing companies
· Problems of introducing new partner
· Lack of collateral
· Potential expense of raising large sums of money
· Should…
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