Research into businesses involving food, clothes or hairdressing.

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Introduction

My name is Bianca Chanell Orum and I am doing some research about businesses involving food or clothes or hairdressing. I am doing this research because I am interested in setting up a food business so I can sell Colombian food to the customers. I am looking to set up my business in Elephant and castle, as there are many Latin people there that would purchase the food.

The nine different types of ownership:

Sole trader- A sole trader is a person who is in business and is not in a partnership with anybody else. So they keep all of their profit, make all the decisions, work when they want to work and are their own boss. The disadvantages about being a sole trader are that they could lose all of their money and become bankrupt. And since they are their own boss they have to work all of the hours, even if they are sick they don't get paid and have to raise the finance on their own.

Public limited company- A public limited company can sell its shares, a public limited company first has to raise the sufficient capital, through the stock