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types of businesses - Coggle Diagram
types of businesses
sole proprietorship
one person
almost any field
hairdressers
plumbers
newsagents
electricians
cafes
receives all profit
entrepreneurs
enterprising behaviours
being creative and innovative
being able to plan and complete complex skills
having good problem-solving abilities
being a reflective thinker
demonstrating initiative
being willing to take measured risks
communicating clearly and effectively with different types of people
analyzing alternative and selecting appropriate courses of actions
predicting the consequences of a decision
unlimited liability
partnership
2 people
shares profit and losses
similar skills
verbal agreement
formal written agreement
unlimited liability
corporation