Unit 201 PP3

Open Ended

Why might someone choose to become a sole trader rather than work for a limited company?

Multiple Choice

What are some key characteristics that distinguish self-employment from working for a company?

• Self-employment offers more flexibility but less job security.

• Self-employment guarantees a fixed salary every month.

• Self-employment requires less responsibility than working for a company.

• Self-employment means you always work alone.

Open Ended

Explain how liability differs between a sole trader and a limited company.

Multiple Choice

Which of the following is a key difference between a sole trader and a limited company in the UK BSE industry?

• Legal status

• Business location

• Product type

• Marketing strategy

Multiple Select

Select all advantages of being a sole trader from the list below.

• Easy to set up

• Limited liability

• Complete control

• Lower costs

Open Ended

Discuss the disadvantages of being a limited company and how they might affect business operations.

Multiple Choice

Which of the following is NOT an advantage of being a limited company?

• Limited liability

• Greater access to finance

• Reduced privacy

• Ability to attract top talent

Multiple Choice

Which of the following is NOT a typical role for a self-employed individual in the UK BSE industry?

• Builder

• Electrician

• Doctor

• Architect

Open Ended

Explain how self-motivation and flexibility contribute to the success of a self-employed tradesperson.

Multiple Select

Which of the following are benefits of self-employment in the UK BSE industry?

• Ability to set your own hours

• Greater career satisfaction

• Social isolation

• Positive customer testimonials

Open Ended

Discuss two major challenges faced by self-employed individuals in the UK BSE industry and suggest possible solutions.

Multiple Choice

Self-employment can offer both benefits and drawbacks. Which of the following is NOT typically considered a benefit of self-employment?

• Greater flexibility in work hours

• Direct control over business decisions

• Guaranteed income every month

• Opportunity for personal growth

Open Ended

Reflecting on today's lesson, what do you think are the most important characteristics of self-employment in the Building Services Engineering sector?