Attributes of Different Types of Business Flashcards
1
Q
Attributes of a small business
A
Lower Revenue and Profitability Few Employees Small Market Area Fewer Locations low recognition low customer loyalty
2
Q
Attributes of a large business
A
higher Revenue and Profitability more Employees large Market Area more Locations brand recognition higher customer loyalty
3
Q
Attributes of a fast growing business
A
higher (increasing) costs higher (increasing) profit might be entering new markets ( going international) growing brand recognition looking to expand more appealing to investors
4
Q
Attributes of a sole trader
A
unlimited liability
one person making decisions
limited source of finance
5
Q
Attributes of a partnership
A
unlimited liability
two people making decisions
limited source of finance
6
Q
Attributes of a private limited company
A
shares cant be bought by the public without permission from the director (not on stock market)
maintain close control off all aspects of the business
keep all profit
quick expansion
7
Q
Attributes of a public limited company
A
shares bought on the stock market (share capital)
must publish financial accounts
have to pay dividends
