null
US
Sign In
Sign Up for Free
Sign Up
We have detected that Javascript is not enabled in your browser. The dynamic nature of our site means that Javascript must be enabled to function properly. Please read our
terms and conditions
for more information.
Next up
Copy and Edit
You need to log in to complete this action!
Register for Free
2541933
Legal OwnerShip
Description
darren
Mind Map by
Jordan Stimely
, updated more than 1 year ago
More
Less
Created by
Jordan Stimely
about 9 years ago
1
0
0
Resource summary
Legal OwnerShip
Sole trader
Benifits
Easy to Setup
All profits are yours once tax has been payed
Keeping records is simple
No permission is needed when trading under you own name
Issues
Illness and holidays determine no income into the business
You need business Skills to run a business on your own
You have to take all responsibility when paying all debts, this is called "Unlimited Liability"
Description
The Business is owned by one person with or without employees
Example
Darren's Flooring, courtesy of http://www.yell.com/biz/darrens-flooring-london-7804175/
PartnerShip
Description
Drawing up a Partnership agreement stating each person's role and share of profits helps to prevents disputes
Benefits
Partners can share skills and ideas
Show full summary
Hide full summary
Want to create your own
Mind Maps
for
free
with GoConqr?
Learn more
.
Similar
9 History- The Treaty of Versailles
melgallagher
Themes in Lord of the Flies
lowri_luxton
Geography - AQA - GCSE - Physical - Rivers
Josh Anderson
C1 B1 & P1 Test
jodie00
Chemistry (C1)
Phobae-Cat Doobi
P4: Explaining motion
thegeekymushroom
Religious Studies- Marriage and the family
Emma Samieh-Tucker
Certification Prep_1
Tonya Franklin
Food Technology - KEY TERMS
Dani Whitrick
Weimar & Nazi Germany?
Maddy Balkham
Psychology 115 Final Exam Review
HighBounce
Browse Library