Describe the Type of Business, Purpose and Ownership of Two Contrasting Organisations

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| What is the ownership? | Advantages | Disadvantages | Sole trader | A business owned by one person. This owner may employ other staff to work for them. | | | Plc | | * There is indebtedness for the shareholders. * The business has separate legal entity. There’s continuity although any of the shareholders die. * These businesses will raise massive capital add as there's no limit to the amount of shareholders. * The shares of the business area unit freely transferable providing additional liquidity to its shareholders | * There square measure ton of legal formalities needed for forming a public company. It expensive and time intense. In order to safeguard the interest of the standard capitalist there square measure strict controls and laws to abide by. * These corporations have to be compelled to publish their accounts. * The original house owners might lose management. * Public restricted corporations square measure large in size and will face management issues likes low higher cognitive process and industrial relations issues. | Ltd | | * Limited Liability: It means if the corporate expertise money distress owing to traditional endeavour, the private assets of shareholders won't be in danger of being appropriated by creditors. * Continuity of existence: business not laid low with the standing of the owner. * Minimum ranges of shareholders have to be compelled to begin the business area unit only2. * More capital is raised because the most range of shareholders allowed is fifty. * Scope of enlargement is higher as a result of simple to lift capital from money establishments and therefore the advantage of financial obligation. | * Growth could also be restricted as a result of most shareholders allowed square measure solely fifty. * The shares in an exceedingly non-public Ld. can't be sold or

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