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Business: Ownership

T1

QuestionAnswer
Sole Trader: Advantages -Easy to set up -Little finance required -Keep all the profits -Financial information is private
Sole Trader: Disadvantages -Unlimited liability - Business stops if ill or on holiday -Long working hours -Shortage of capital -Skills shortage -No continuity
Partnership: Advantages -More capital available -Easy to set up -More skills available -Shared workload -Financial information is private
Partnership: Disadvantages -Shared profit -Unlimited liability -Shortage of capital -Slower decision -No continuity
Private Limited Company: Advantages -Limited liability -Continuity -Can raise capital more easily Control over share sale
Private Limited Company: Disadvantages -Financial information available to the public -Complex and expensive to set up -Sales of shares is restricted -Dividends to be paid
Public Limited Company: Advantages -Can raise large amounts of capital -Easier to borrow money -Limited liability for shareholders
Public Limited Company: Disadvantages -Possibility of a takeover -Complex and expensive to set up -Hard to manage as so large -Financial information available to the public
Created by: lil.dripz
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