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Disadvantages - Coggle Diagram
Disadvantages
PLC
Ownership and control issues
Higher levels of transparency required
More regulatory requirements
More vulnerable to takeovers
Sole traders
Unlimited liability
Limited funds of their own
The business is the owner - what happens to the owner affects the company
Higher tax rate than a company
Partnerships
Unlimited liability
One owners actions affect all other owners
Harder to raise finance than a company
More complicated to sell/close the business
LTD
Greater admin cost
public disclosure of company information
Directors' legal duties