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A sole trader is where an individual who is the sole owner of his/her business, he/she can decide in which way the business is conducted. They receive their own wage/salary, what hours they want to work. Advantages

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Introduction

??????????????????????????????????????????????????????????????????? ???????????? ?????????????? A sole trader is where an individual who is the sole owner of his/her business, he/she can decide in which way the business is conducted. They receive their own wage/salary, what hours they want to work. Advantages * Cheap& easy to set up * Owners keep all profits * Finical affairs of the business do not have to be displayed, although tax authorities must have access to them. Disadvantages * Unlimited liability * Lack of cover if of sick * Sole owners have to raise all their own capital Summary Being a sole trader you can make changes to your business how you want and when and you have a personal relationship with your customers. ...read more.

Middle

work place Summary This could be good and bad, it would help if you were low on capital and having a partnership could create new ideas in business, Although on the other hand if you and your partner have a dispute it can lead to bad working conditions and cause the business to fail and leave you and your partners bankrupt. It is very important that you choose the right partners for your business to be a success. Public limited company A public limited company must have a least two directors and two share holders, public limited companies must also have a solicitor, accountant. ...read more.

Conclusion

The co-operative is formed to help small business or individuals to become part of an expanding group, they have the power to buy or bargain. There are three main types of co-operatives: 1. Retail co-operatives 2. Marketing co-operatives 3. Worker co-operatives Advantages * Equal control is shared among each worker * There is a lot of loyalty & support within the community * It is self-governing disadvantages * There may be a lack of skills required to run& control the business * The business may suffer from little/no capital * There is a high failure in the rate of co-operatives Summary They suffer from no profit instead they stay loyal to their customers in the communities. ?? ?? ?? ?? ...read more.

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