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You set up a Sandwich Shop on the High Street in Folkestone. What type of Business would you run, would you be a sole trader, a partner with another person or become a limited company?
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| Submitted: Thu Jul 11 2002
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You set up a Sandwich Shop on the High Street in Folkestone. What type of Business would you run, would you be a sole trader, a partner with another person or become a limited company? A sole trader is when one person has the only share in the company. The best example of this is a window cleaner. But a sole trader doesn't mean that you can't employ people, you could have as many employers as you want it just means that you have the only share in the company. A partnership is when you go into business with other people the minimum of people in a partnership set by the government is 2 and the maximum is 20. A partnership also doesn't limit you to the number of people you can employ. But the company will have unlimited liabilities this means that if your company goes under my investors can...
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