Created by keeshansheila1 about 6 years ago
What is a SOLE TRADER? A Sole Trader is a person who owns,manages and provides the capital for a business.
What is a Privately owned company? It is a business owned by shareholders usually 1-99 who finance the business (provide capital). If the company makes a profit the shareholders get a dividend.
What is a SHAREHOLDER?A shareholder is a person who invests the money in a company in order to make money in a company. They have Limited Liability.
What is LIMITED LIABILITY? Limited Liability is when the shareholders only loses what they invest in the company. This means that shareholders do not lose their private property to pay for the debts of the business.
What is a CO-OPERATIVE? A Co-operative is a business run by a group of a people who share a common interest. it is run for the benefit of a group of people.
What is a STATE OWNED COMPANY?it is a business owned and manged by the goverment and formed by an ACT OF THE DAIL.
What is Privatisation and nationalisation? Privatisation is when the Government sells a state owned companyto the private sector e.g eircom.. nationalistion is when the government buys of takes over a privatly owned company.