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LO1 (Legal ownership (sole trader, partnership, private limited company…
LO1
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Types of business
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Secondary
Manufacturing goods which are made from raw materials and turned into finished and turned into finished goods. Also include firms
Tertiary
Providing services, also includes business involved in the distribution process
Business Sectors
Public Sector
Owned, controlled and financed through government
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Third sector
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funded by donations, fundraising and grants