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Theme 1 revision - Coggle Diagram
Theme 1 revision
1.4.1
sole trader- A business which is owned by only one person, although there may be more employees.
They are often individuals who have specialist skills.
Partnership- A business which is owned by two or more people (usually between two and twenty).
A deed of partnership is created when starting the business.
private limited company- A business which is owned by shareholders who are usually family and friends.
public limited company- A business which is owned by shareholders who can buy the shares from the stock market.
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advantage's of partnership: They are usually quick and easy to set up and have to share decision making and responsibility for debt.
Stakeholders 1.5
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Customers, suppliers, local
community, pressure groups,
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