Business Types Flashcards
1
Q
Pros of Private Limited Company
A
- Limited Liability
- Flexibility in ownership
- Easier to make business
decisions
2
Q
Pros of Private Limited Company
A
- Limited Liability
- Flexibility in ownership
- Easier to make business
decisions
3
Q
Cons of Private Limited Company
A
- Limited Control
- Higher Costs
- Less money than a Public
Limited Company
4
Q
Cons of Public Limited Company
A
- Loss of Control
- More Complex
- Risk of Hostile Takeover
5
Q
Pros of Sole Trader
A
- Cheap to set up
- Complete Control
- Flexibility
6
Q
Cons of Sole Trader
A
- Unlimited liability
- Sole responsibility
- Poor Work-life
7
Q
Pros of Partnership
A
- Low Start-up cost
- Shared Liability
- Simple
8
Q
Cons of Partnership
A
- Selling Complications
- Splitting Profits
- Loss of Control
9
Q
Meaning of Branding
A
The process of creating a distinct identity for your business
10
Q
A
