All the profit is yours. You are your own boss. You do all the work (You can't blame anyone if anything goes wrong). Cheap and easy to start You have unlimited liability All the risk is yours What about sickness and holidays? Do you have all the skills? Partnership You share payments with partners You don't have to do everything yourself You can go away for a holiday Unlimited Liability (You and your partner(s) are responsible for all the debts of the business)
You will share your profits with your partner Private Limited Company Easier to raise larger sums of capital More flexible than PLCs Opportunities for bringing in more skills You have limited liability People may be unwilling to buy shares It can be hard for investors to get their money back when they want to You can only sell shares privately Not very flexible if expansion becomes possible More legal formalities than sole traders Public Limited Company.
You have limited liability Easier access to finance More funds available for investment Public awareness gives status Public companies are very strictly controlled by law and regulated by the debt for trade and industry. You have to publish results Others, e. g. auditors have to look at your books Greater need to conform to legal procedures Owners might lose control Franchise You can start up and run your own business with a lower risk than normal New franchisees get help, advice and support on how to run and develop their business.
Not very flexible Fixed share of turn over has to be paid to the franchisee My Business Card's Designs 1. 2. 3. They have been designed this way so that we can get customers. These cards will do this with their appropriate images, good colour themes and our company's logo (persuading people to buy from us). They also include information so that customers can call us, send letters to us, email us or check our website.