Types of self employment in sport

Which is the most common type of business?

• Sole Trader

• Partnership

• Limited Company

Identify the best definition for Sole Trader?

• A specialist business

• A business that is owned and controlled by one person

• Not a limited company

What are the features of a sole trader?

• limited liability + stability of business + owner

• owner + limited liability + decision maker

• unlimited liability + owner + decision maker

Which is a main feature of a sole trader?

• No legal distinction between business and owner

• Great availability of finance

• Financing by selling shares

One of the greatest advantages of sole trader is?

• Business is stable

• Sells shares to increase capital

• All profit goes to the sole trader

A partnership is?

• A business owned by 2 people

• A business owned at least by 2 people who share responsibility

• A business with people of similar or related skills

A feature of partnership is that?

• The easiest way to form a business

• Partners share all the profits equally

• Partners do not necessarily share all the profits equally

How does a private limited company differ from public limited company?

• It cannot sell shares

• Shares can only be sold to individuals and not companies

• Shares can only be sold to people known to the owners

Identify the feature of a partnership?

• Some partners may be "sleeping partners"

• Great availability of finance

• Partner always own equal shares

What is the main reason for a business to become a company?

• Limited liability

• Enhanced status

• Increased stability