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Business Studies - AQA - GCSE - Types of Ownership
Descripción
Types of Ownership for GCSE Business Studies
Sin etiquetas
business studies
ownership
types of ownership
business
business start up
gcse
studies
marketing
unit
unit 1
business studies
gcse
Mapa Mental por
Josh Anderson
, actualizado hace más de 1 año
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Creado por
Josh Anderson
hace casi 9 años
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Resumen del Recurso
Business Studies - AQA - GCSE - Types of Ownership
Sole Trader
Advantages
Boss of yourself
Easy to make decisions quickly
Easy to set up
Keep all money made (profits)
Make your own decisions
Disadvantages
Unlimited Liability
May lack finance
Heavy Workload
May not have skills
Difficult to have a holiday
Partnership
Disadvantages
Possible arguments with partners
Unlimited Liability
Liable for being held responsible for the actions of partners.
Advantages
Shared Workload
Many sources of finance available
Range of skills
Private Limited Company
Disadvantages
Registration at companies house
Have to release information about sales/profits
Accounts must be independently checked
If there are multiple investors, the original founder is not in full control
Advantages
Limited Liability
Better status in eyes of customers
Continues after death of founder
Can have investors
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