Types of businesses

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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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