Business Types

What is a business owned and operated by one person?

• Sole Trader

• Partnership
• Corporation

What is a business owned by stockholders/investors but operated by others?

• Sole Trader

• Partnership

• Private or Public Limited Company

What is a business owned and operated by two or more people?

• Sole Trader

• Partnership
• Corporation

What is ONE advantage of a sole trader?

• You make ALL the decisions
• Easy to raise money
• You have to share profits

Which is ONE disadvantage of Sole Trader?

• Less direct control
• Disagreements
• Hard to raise money

What is ONE advantage of a Partnership?

• Someone else can help with decisions, etc.
• Double taxes
• Disagreements

What is ONE disadvantage of a Partnership?

• Easier to start
• Have to share the profits
• Help in making decisions

What is ONE advantage of a Private or Public Limited Company?

• Difficult to start

• Make all of the decisions

• Easy to raise money!

What is ONE disadvantage of a Private or Public Limited Company?

• Disagreements

• Less direct control

• The risk is all on one person

This type of business is owned by two or more people.

• Sole Trader

• Partnership
• Corporation
• Franchise