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Organisation
Sole Trader • All profits kept by owner • Owner has limited liability
• Owner has complete control over • Available finance is restricted
all decisions • Owner has no one to share decisions
• Owner can choose hours of work / problems with
/ holidays • Owner has no one to share workload
• More personal service offered with
to customers • Work may stop if owner is ill / on
• Very easy to set up holiday
Public Limited • Huge amounts of finance can be • Set up costs of company may be
Company (PLC) raised high (e.g. they may have to produce
• Plcs often dominate the markets top quality, detailed prospectuses
• Easy to borrow from lenders due and arrange underwriting)
to their large size • Must abide by the Companies Act.
• No control over who buys shares
• Must publish annual accounts
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