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Business Ownership There are several different types of business ownerships. Depending on the type of ownership, the owners have different responsibilities and involvement in a business. One aspect of this is who bares the business risk and whether the owners have limited or unlimited liabilities. Different types of owners are: * Sole trader * Partnerships * Co-operatives * Franchise * Public sector * Company - Private Limited Company - Public Limited Company Sole Trader There are many businesses in the UK which are sole traders. The owner has complete control of the business, and is totally responsible for its success or failure. Running your own is business in extremely hard work because you working on your own. The risks are great, but so are the rewards in job satisfaction. Advantage There are many advantages of a sole trader and the main one is that the owner keeps all the profits. Though the owner must save enough money to pay tax, interest...

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