Sole traders, partnerships, limited companies, and limited versus unlimited liability.
Types of ownership
- Sole trader — one owner; easy to set up, keeps all profit, but unlimited liability and limited finance.
- Partnership — 2+ owners; more capital and shared skills, but shared profit and unlimited liability.
- Private limited company (Ltd) — shares sold privately; limited liability; harder to set up.
- Public limited company (plc) — shares on the stock exchange; raises large capital but faces more regulation and takeover risk.
Viewing only
This content is free to read on superexams.com and cannot be printed or downloaded.
Read the full note — free
Create a free account to read this note in full. Every free account gets 2 complete revision notes — no card needed.