Type Of Organisation

Question 0

Advs and Disadvs of Partnership?

Answer 0

Adv- easy to set up and can share resources

Disadv- UNLIMITED LIABILITY and potential for disputes

Question 1

Advs and Disadvs of Sole traders?

Answer 1

Adv- owner has control and gets all profits

Disadv- business suffers if owner is ill

Question 2

Advs and Disadvs of Limited?

Answer 2

Adv- easier to raise funds and control
Kept by owners
Disdv- hard to set up (memorandum of association, Agreement of association, register with company of house etc) and capital restricted

Question 3

Advs and Disadvs of PLC?

Answer 3

Adv- easy to raise funds and grow large

Disadv- vulnerable to take overs

Question 4

Advs and Disadvs of Franchise?

Answer 4

Adv- instant business with help and support

Disadv- no freedom, must sell certain things

Question 5

Advs and Disadvs of co-op?

Answer 5

Adv- democratic; conflicts less likely

Disadv- no single leader; harder to raise capital