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Types of Business - Coggle Diagram
Types of Business
Private Limited Company
a company limited by shares LTD
a designated activity company DAC
LTD
1 director
doesn't hold and AGM
DAC
at least 2 directors
must hold AGM
Sole Trader
Owned and run by 1 person
Advantages
Keeps profits
Has full control
Disadvantages
*Unlimited Liability
Suffers all losses
E.g Butcher
Public Limited Company
shares can be sold on the stock exchange
any amount of shareholders
advantage
access to new finance
disadvantage
loss of control
Frachising
an individual sets up an existing company
State Sponsored Body
A business owned by the government
Types
statutory co-orporations
companies with the government as a shareholder
airport authority
subsidiaries (smaller companies inside larger ones)
Co Opertives
