Types of Business

Question 1

What is a Sole Trader?

Answer 1

is an individuals who owns the business and is the sole person legally responsible for all aspects of the business.

Question 2

What is a partnership?

Answer 2

a group of two to twenty people, can be involved in the ownership and running of the business.

Question 3

Private limited company

Answer 3

an incorporated business. The ownership is divided into equal parts called shares. Shares are NOT traded on the stock exchange.

Question 4

What a government business enterprise

Answer 4

a corporation owned by the government and shareholders. Main objective is to provide a service or product and make a profit in doing so.

Question 5

What is a social enterprise

Answer 5

An organisation that exists to provide assistance in the form of goods, service or finances to disadvantaged or marginalised groups in society. To overcome social problems.

Question 6

What is a public listed company?

Answer 6

has member who own the company and directors who run it. Is listed to the stock exchange for member of the public to trade shares.