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Sole Trader - Partnership, Advantages, McDonalds is owned by more than…
Sole Trader - Partnership
definition :star:
definition :star:
Advantages
Disadvantages
Potential for disagreements : :no_entry:
Lack of authority :red_cross:
Difficulty of transferring ownership :forbidden:
Risk sharing :check:
Diverse ideas :checkered_flag:
Potential for tax benefits :star:
Shared resources and finance :!?:
:red_flag:
McDonalds is owned by more than one person.
Apple was founded by 3 main people.
Features :fire:
• Flexibility :!!:
• Agreement
• Unlimited liability
Sharing losses and profits
Two or more people co-own and run a business together.
examples
When one person owns and operates the business
example :
Modern knowledge school which is owned by Mrs Kazarooni
The owner of Jasmis and Le Chocolat.
features :explode:
Advantages :tada:
Disadvantages :warning:
unlimited liability :no_entry:
Limited resources :no_entry:
Limited skills and expertise :no_entry:
Lack of continuity :no_entry:
easy and inexpensive setup :star:
Full control :star:
direct connection with customers :star:
Profit retention :star:
Privacy
Sole profits and losses
Simple ownership
Decision making authority