a sole trader a bussiness is owned by only one person
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define franchiseor
a large company that sells rights to sell a product or service under its name to a small bussiness
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define private limited companys and public limited companys
private l.c is when shares in the company are not available on the stock exchange and shareholders are usually friends and family,public l.c are on the stock exchange and open for anyone to buy
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unlimited liability?
the owner(s)'s assests are at risk if the bussiness goes into debt, they may be used to pay the debt off
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what are aims and objectives?
aims are stated targets for the future and objectives are clearly defined targets for a bussiness to achive over a set amountof time
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what is a stakeholder?
a stakeholder is someone who had an interest in what goes on inside a business
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