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Business - Coggle Diagram
Business
Sole Traders
- All profits are yours
- Your the boss
- Start-up costs are low
- You make all the decisions
- Unlimited liability
- retaining high value employees may be difficult
- responsibility is all yours
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Partnerships
- easy to establish and start up, more capital is available
- conflict and disagreements, splitting profits
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LTD
- Lower taxation, easier access to growth funds
- higher set up costs, accountancy fees
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PLCs
- shareholders have limited liability, increased opportunities
- Loss of control, higher set up costs
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Public Sector
- higher average pay, flexible working hours
- government debt, less revenue
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