Business Ownership Flashcards
1
Q
Name the 5 business ownership options.
A
Private Limited Company, Public Limited Company, Sole Trader, Partnership and Social Enterprise
2
Q
What is a LTD?
A
Owned by individuals and aim to make profits
3
Q
What is a PLC?
A
Owned by the governement and usually provide a necessary service.
4
Q
What is a Sole Trader?
A
Someone who sets up a business alone.
5
Q
What is a Partnership?
A
2 or more people who own the company, usually it is up to 20 but could be more.
6
Q
What is a social enterprise?
A
A business that offers their product or service to benefit the rest of the society.
