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Business Ownership - Coggle Diagram
Business Ownership
Sole Trader
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Formation:
start straight away, in own name OR register with CRO
Advantages:
easy, quick, cheap to set up
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keep all profits, after tax
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Finance:
limited to savings &/or ability to access loans, difficult (new)
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Co-Operative
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Formation:
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rules adhered to, fee paid → permission given
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democratically controlled business, jointly owned by its members
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