Types of ownership
A sole trader is a business where there is only one shop or one of those businesses around for a example local hairdressers such as Deans barbers , their own business they are in charge they work how often they want disadvantage is that you don’t have cover if you become ill you don’t make money e.g. ice cream man
Partnership is where it is a joint owned business and money made is shared between you both, helpful because you can have shared responsibility so no one person takes the blame however this can also be a disadvantage because you both have to agree on the decision before it becomes reality, between two and twenty two people in a partnership unlimited liability that means that if you bankrupt then you don’t get your money back and if you go into debt and you can’t afford your debts they can take your house or car to pay the debts
Public limited company is where shares are sold to the public this   means that that the can offer their own opinion on what goes on in the business however when there are more people offered shares decisions which are made may not be agreed by all shareholders, shares are put on the stock market to buy if the business does bad then you can lose money hope to get back your percentage for example Lidl or Aldi as they are up and coming businesses which means they may make lots of money, if the business does well then you can make more money than when you bought the shares at the beginning the business has to do well for you do well could go into debt if the business goes bankrupt Glazers they have sold their shares to make more money for themselves
Private limited company’s shares are not sold on the stock market, often a small business such as an independent retailer you have more ownership of the business so you can make the decisions an example of a private limited company is Warburton’s sell shares to independent buyers
Government departments and agencies are lots of different departments set up by the...