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Ownership of a Small business.
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| Submitted: Mon Jul 05 2004
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Ownership Small business: Mr.S.Burton and Mr.S.Coleman own PSL workplace in Parkstone. They bought shares from the company and it is a private limited company. PSL Workplace is situated on Church Road, Parkstone. The fact that Mr.S.Burton and Mr.S.Coleman are shareholders means that they bought shares in the business. The advantage of being a shareholder is that you have limited liability. This means that the owner(s) never have to loose any money and/or personal belongings to the business. However, there are some disadvantages, such as not having full control of the business and only getting a share of the money, rather than any of the money you wanted. PSL Workplace used to be owned by a sole trader. The sole trader decided to turn the business into a limited company. He did this because he wanted limited liability so that he would never have to loose any money and/or belongings to the business, no matter how...
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