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Different types of businesses, unlimited liability - Coggle Diagram
Different types of businesses
Sole Trader
Advantages
has full control of business
no legal complications
Disadvantages
may lose private wealth
needs to always be avaliable
the business owners personal assets that may be used to pay debts
Private Limited company
Company Limited by Shares (Ltd)
these companies are expected to be most widely utilized
Designated Activity Company (DAC)
these most closely resemble current private limited companies
can have 1 - 149 share holders
Public Limited
Company
unlimited share holders
must have PLC listed in its name
public listing
the shares of the company are listed on a public stock exchange
Franchising
franchisee
the franchisee is the individual who accepts the franchise agreement
franchisor
the franchisor is the owner of the brand that the business wants to profit off
Co-operative
types
financial
worker
consumer
producer
State Sponsorded
Bodies
state sponsored body is a business owned by the government
examples
bord bia
ESB
Bus Éireann
unlimited liability
