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    Revision Summary 1

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    This document summarizes different business structures including sole traders, partnerships, private limited companies, and public limited companies. Sole traders have complete control but no ability to share responsibilities or raise capital from others. Partnerships allow for more capital and sharing of responsibilities but partners must all be actively involved. Private limited companies allow for raising capital through shares and provide liability protection but shares cannot be publicly sold. Public limited companies can sell shares to the public, rapidly expand, and appoint specialist managers but have greater legal formalities and disclosure requirements.

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    Revision Summary 1

    Uploaded by

    api-295360018
    4K views2 pages
    This document summarizes different business structures including sole traders, partnerships, private limited companies, and public limited companies. Sole traders have complete control but no ability to share responsibilities or raise capital from others. Partnerships allow for more capital and sharing of responsibilities but partners must all be actively involved. Private limited companies allow for raising capital through shares and provide liability protection but shares cannot be publicly sold. Public limited companies can sell shares to the public, rapidly expand, and appoint specialist managers but have greater legal formalities and disclosure requirements.

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    This document summarizes different business structures including sole traders, partnerships, private limited companies, and public limited companies. Sole traders have complete control but no ability to share responsibilities or raise capital from others. Partnerships allow for more capital and sharing of responsibilities but partners must all be actively involved. Private limited companies allow for raising capital through shares and provide liability protection but shares cannot be publicly sold. Public limited companies can sell shares to the public, rapidly expand, and appoint specialist managers but have greater legal formalities and disclosure requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    4K views2 pages

    Revision Summary 1

    Uploaded by

    api-295360018
    This document summarizes different business structures including sole traders, partnerships, private limited companies, and public limited companies. Sole traders have complete control but no ability to share responsibilities or raise capital from others. Partnerships allow for more capital and sharing of responsibilities but partners must all be actively involved. Private limited companies allow for raising capital through shares and provide liability protection but shares cannot be publicly sold. Public limited companies can sell shares to the public, rapidly expand, and appoint specialist managers but have greater legal formalities and disclosure requirements.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    of 2

    Revision summary: sole traders and partnership

    Owner in complete control

    No sharing of profitsIncentive to work hard

    BUT

    SOLE TRADER
    PARTNERSHIP

    No limited liabilityNo

    Able to raise capital

    Responsibilities

    Easy to set up

    BUT
    Continuity

    More ideas from

    from all partners

    shared

    Partners can be specialize


    new partner(s)

    Revision summary: private limited companies


    Raise capital from
    of shares

    Limited liability for

    Separate legal

    shareholders

    Continuity

    identify

    Benefits

    PRIVATE LIMITED
    COMPANIES
    Laminations

    Cannot sell shares to


    public

    Legal formalities

    Accounts must be
    available for public
    to see

    Not easy to
    transfer shares

    Revision summary: public limited companies

    Can sell shares

    Rapid expansion possible

    Limited liability

    to public

    specialist managers appointed

    Continuity

    Benefits
    PUBLIC LIMITED
    COMPANIES
    Limitations

    Legal formalities

    Disclosure of accounts

    Divorce between

    Expansive to

    and other information

    ownership and control

    go public

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