Cadbury Schweppes
- This is a preview of the essay.
To view the full text you must login!
Ownership
There are four types of business ownership that businesses have.
They are:
Sole Trader
Partnerships
Limited Companies (PLC or LTD)
These business ownerships are in the private sector and are directly owned.
Sole trader means that there is just one owner who is responsible for the business. They may employ a number of staff to run the business together but they would not make decisions. Therefore the sole trader is responsible for themselves. All the profit from the business goes to the sole trader. Sole traders have unlimited liability which means they are liable for their own actions. Examples of sole traders are hair dressers, plumbers, solicitors and corner shops.
Partnerships are two or more people sign a contract which states that they operate the business together. Ownership and control of the business are shared equally unless the partners have decided otherwise...