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business ownership and location
Member rating: No Rating | Words: 7519 | Submitted: Thu Jan 17 2008
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Business ownership and location Introduction Ownership There are 6 different types of business ownerships. Each of the ownerships has different advantages and disadvantages to the owners. The type of ownership may change as a business grows and develops. The 6 different types of ownerships are: * Sole owner * Partnership * Public Limited Company (PLC) * Private Limited Company (LTD) * Franchise * Co operative Below is a table showing the strengths and weaknesses of the 6 focal business ownership. Ownership Advantages Disadvantages Sole Trader A sole trader is 1 person who runs the company and is liable of all the loss and profits. * Make all decisions. * Takes all the profits. * Flexibility. * Easy to set up. * Liable for all debts and loss. * No holidays & Long hours of work. * Limited access to money. * Pressure of being a single person. Partnership A partnership is a group of people usually 2-20 people maximum. Liable to all debts and debts are paid by all partners. * Access to...
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