Types Of Ownership Flashcards
What is a partnership?
These are businesses where two or more people own the business together.
Give an example of a sole trader?
Mobile hairdressers, window cleaners
Give a example of a partnership?
Estate agents, solicitors
What is a private limited company? (Ltd)
These are usually owned by one or a small number of shareholders. Shares can only be sold privately so the owners have control over what can happen to the business.
Give an example of private limited companies?
Builders, local grocery stores, local garages
What is a public limited company? (PLC)
Where members of the public can buy shares in the company.
Give an example of public limited companies?
Barclays (banking), easyJet (transport)
What is a franchise?
A franchise is a contractual agreement between two businesses.
Give an example of a franchise?
McDonald’s, Subway
What is a co-operative?
Co-operatives are businesses that are either owned by members who are workers or by members who are consumers.
What is a sole trader?
These are businesses owned by one person.
