S3 Types of Business Organisations

What sector do Sole Traders belong to?

• Public

• Private

• Third

To start a Partnership there needs to be how many people?

• 2

• 2-10

• 2-20

Limited Liablity means

• You can only buy a certain amount of shares

• You are limited by the choice of shares

• You only lose the amount of money you have invested, if debt problems occur

A shareholder

• Owns a share in a Sole Trader

• Owns shares in a Private Limited Company

• Owns shares in a Partnership

The following is an advantage of a Partnership

• You can choose your own holidays

• Workload is shared

• You have noone to share your problems with

The Board of Director

• Runs a Ltd Company

• Runs a Sole Trader

• Runs a Partnership

This organisation is very easy to set up

• Partnership

• Sole Trader

• Private Limited Company