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The Form of Business Organisation That I Will Set Up There are five types of business organisations that I can choose from, to set up my new business. They are: * Sole Trader * Partnership * Companies- Private Limited Company and Public Limited Company * Co-operative * Franchise Sole Trader A sole trader is when an organisation is owned and controlled by a single individual. A sole trader is sometimes referred as a sole proprietor. Sole traders are smallest forms of businesses. Here are some examples of sole trader businesses: plumbers, bakeries, hair dressers, and window cleaners. It is the most common type of ownership in the U.K. economy. Advantages of becoming a sole trader include: * * Easy to set up and control * Can keep all profits * Tax advantages * Labour relations * Low start-up costs * Flexibility * Make own decisions * Job satisfaction Disadvantages of becoming a sole trader include: * * Unlimited liability * Lack of capital * Pressure of responsibility * Long working hours *...

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