Please enable JavaScript.
Coggle requires JavaScript to display documents.
ownership - Coggle Diagram
ownership
sole trader
keep all profit
decide when to have holidays
do what you want
cheap and simple to set up
choose your hours
advantages
disadvantages
unlimited liability
only has income when working
difficult to take time of
lack of specialised skills
characteristics
determined
open minded
clever
public limited company (plc)
disadvantages
media focus - pressure to get things right
lack of control - shareholders have some control
more regulated - rely on income
more paperwork
advantages
limited liability - owners not held for company's debt
easier to raise finance
more publicity - sell more
more credibility - good reviews so more customers
characteristics
business name will end in PLC
owned by shareholders
shareholders receive money in the form of dividends
private limited company
advantages
unlimited liability
ability to raise finance
control
continuity
disadvantages
accounts can be seen by public
require documents to take time off
restricted to who can buy into the business