Types of Businesses 1.4.1

Question 1

Sole Trader

Answer 1

A business organization owned and controlled by one person. They can employ other workers but only they are the owner.

Question 2

Partnership

Answer 2

Between 2 or more people to own a business.

Question 3

Private Limited Companies

Answer 3

Companies with one or more owners who can sell their shares to only the people known by the existing shareholders (family and friends)

Question 4

Public Limited Companies

Answer 4

Two or more owners who can sell their shares to anyone through stock exchanges