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Types of businesses, Franchising - Coggle Diagram
Types of businesses
Public Limited Company
PLC must come after its name
No restriction on number of shareholders
The public can buy shares
Get access to new finance
Cashing in
Loss of control
Increased public scrutinity
Sole trader
A person who owns and controls there own business
Responsible for all business debts
Has full control of busines
May lose private wealth
Unlimited liability
Private Limited Company
2 types:Company limited by shares and DAC
1-149 shareholders
DAC holds an AGM
CLS does not hold an AGM
All plc's must be registered with the CRO.
Eg of a PLC would be dunnes stores.
Co operative
Owned by its members
For their benefit
operate in a variety of fields
4 types: Financial,Worker,Producer and consumer
State sponsored bodies
Provide essential services
3 forms: 1.Statutory 2.companies with government as shareholder 3.Subsidaries
Help develop human skills
No profit objective
Inefficiency results in higher costs
privitisation
State owned
selling to the private sector
Provides government with large sum of money
Franchising
Opening a company that already exists
Proven to work
Already brand recognition
Costs alot to set one up