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Types of Businesses - Coggle Diagram
Types of Businesses
Private Limited Company
Two Types, CLS & DAC
Company Limited by Shares
Designated Activity Company
Must Register With CRO
Limited Liability
1-149 Shareholders
Sole Trader
Unlimited Liability
Own Boss & Keep All Profits
Has Full Control of Business
Suffers All Losses
Public Limited Company
Unlimited Shareholders
PLC must be limited after it's name
reduced freedom in making business decisions
Stocks can be sold & bought on the open market
franchising
business formula is tried & tested
You Receive Professional Training
Instant Recognition
Very Expensive to Set Up
State Sponsored Bodies
SSB's are funded by the government
SSB's are not for profit
SSB's are created to provide essential services to the punlic
Any losses are are covered by taxpay
Co-Operatives
Members have equal say in how the business is run
There are 4 types of Co-Ops
Financial
Worker
Producer
Consumer
Min of 7 Members
