Zusammenfassung der Ressource
Legal ownership
- Sole Trader
- Advantages
- No need to pay wages to
employees if you work on
your own
- All income goes to the manager
- Easy to set up
- Disadvantages
- You need good
business skills
- Illness or holidays
would mean no
income
- You are responsible
for paying all debts,
otherwise you could
go bankrupt
- Example: Tony Daws soccer school
- Partnership
- Advantages
- Partners can share skills and ideas
- The business will still operate
if one partner is ill or away
- Problems can
be discussed
and other
views taken
into account
- Disadvantages
- Profits must be shared
- Decision making
is slower
- Partners may
disagree or not
contribute equally
- Example: Intel
- Private limited company
- Advantages
- Banks are more
willing to lend
money
- The owners have limited liability
- Disadvantages
- Shares in a private
limited company can
not be sold to the
public
- Limited companies
must comply with
more laws and send
their accounts to
companies house
each year
- Example: Specsavers
- Public Limited company
- Advantages
- The company
receives far more
capital which can be
used to grow the
company
- Some of the profit, after tax, can
be paid to the shareholders as
dividends
- Disadvantages
- If the shares fall in value,
many shareholders may sell
which lowers the value of the
company
- An annual general
meeting must be held
each year and all
shareholders are
invited
- Example: Microsoft
- Franchise
- Advantages
- Relationships with
suppliers have
already been
established
- You can used a
recognised brand name
and benefit from any
advertising that the
franchisor makes
- Disadvantages
- All profits are
usually shared with
the franchisor
- The franchisor might
go out of business
- Example:
McDonald's