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business - Coggle Diagram
business
sole trader
easy to setup
little finance
full control
keep all the profits
financial information is private
disadvantages
business stops
ill or on holiday
long working hours
shortage of capital
skills shortage
no continuity
unlimited liabilty
partnership
more capital avaible
easy to set up
more skills avaible
shared workload
financial information is private
disadvantages
shared profit
unlimited liability
shortages of capital
slower decision making
no continuity
private limited company
limited liability
continuity
can raise capital more easily
control over share sale
disadvantages
financial information available to the public
complex and expensive to set up
sale of shares is restricted
dividends to be paid
public limited company
can raise large amounts of capital
easier to borrow money
limited liability for shareholders
possibility
complex and expensive to se3t up
hard to manage as so large
financial information available to the public