Business Ownership Types

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Title: Business Ownership Types

Essay Details:

Subject: Miscellaneous

Author: Russel L

Date: December 15, 2013

Level: University

Grade: B

Length: 6 / 1786

Essay text:

Such businesses could be hairdressers, corner shops or market stalls etc. Sole traderships have unlimited liability so if the business fails to pay its debts the financial responsibility falls on the owner/s to pay the debts in full even if they have to sell their business, personal possessions and assets. Another example of business ownership is a partnership. Examples of partnerships used in business are accounting firms and solicitors firms. A partnership has two or more owners. They work, manage and are responsible for the running of the business. Individual partners may concentrate on a certain aspect of the business where they have expert knowledge...

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