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NAME: Lashana Ricketts FORM: 10LE TEACHER: Mrs. Barton TYPES OF OWNERSHIP NUMBER: 1 The 6 main business ownerships are: SOLE TRADER: A sole trader business has 1 owner only usually a small shop e.g. Green Grocers, Local newsagent, Nail shops. The owner usually trade only with their family name. They are responsible for all the decisions and problem solving. They would raise the finance themselves or get a bank loan. Also owned financed and controlled by one individual but can employ other staff. A sole trader business is easy to set up. Being a sole trader make you have the only decision that are to be made. PARTNERSHIP: It has between 2-20 owners. Usually businesses like; local shops, solicitors, dentists, builders etc. The partners have responsibility for raising finance. They would share the decision-making process and the profit between them under ''The Deed of Partnership Act (1890)''. (The Legal Contract), Partnerships have unlimited liability. PRIVATE...

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