Homeowrk Week 2 Flashcards by Eduard Apostu | Brainscape

Q

Sole trader

A

Someone who runs a busniness by themselves

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Q

Adavantages of a partnership

A

More ideas
Split work rate
Shared investement

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Q

Disadvantages of a sole trader

A

Unlimited liability
You have to do all the work

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Q

Private limited company-LTD

A

Sell shares to friends and family

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Q

Advantages of an LTD

A

Limited liability
Easy to get a bank loan

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Q

Disadvantages of an LTD

A

Long time to set up
More paperwork

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Q

Market share

A

Percentage of the market that a business controls

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Q

Takeover

A

When a business buys another busniess

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Q

Merger

A

When 2 businesses join together

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Q

Unlimited liability

A

Personally reliable of business debts

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