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Differentiate sole trader, partnership, Limited Companies, Public…
Differentiate sole trader, partnership, Limited Companies, Public Companies.
Sole Trader
Owned by one person
Less Capital
Partnership
Profit share with partners
2-20 Owners
Partner take part running business
Limited Companies
Private limited companies
0-2 owners
Liability is limited
Transfer of shares is restricted
Public Limited Companies
0-2 owners
Liability is limited
Share are freely trasferable
Public Companies
Owned by central government
Limited Liability
Runs a stated owned industry