Appropriate Legal Structure

Pros: makes own decisions on all profits made, works long hours, limited liability and able to keep the profit. the cons are; responsibilities are important when being the only person, unlimited liability and long hours.

A sole trader is a business owned by the one person, this sort of business would be easy as you would make your  money and you would have no one bossing you about. However, the negatives of being a sole trader is that you could lose all of your personal possessions and you would have to be in charge of everything. A partnership is 2-20 people working together it doesn't include any shareholders. shares are people who own a small part of the business. unlimited liability and limited liability.

private limited liability only take away a certain amount owned by family and friends. unlimited and limited liability is that you might lose all your personal possessions. a public limited company is owned by the public. the pros of a limited liability is that you raise more money, gain more customers. the cons of a limited liability is that you have to pay back what you have put into the business. why change legal status? this is because you can gain more money and if a success, you can make it bigger.

Comment Stream

3 years ago

Your work shows some real positives…

Great start...key terms covered
Use of Images and Headings
Explanations are clear

In terms of Literacy and Presentation, your work is as follows…

Spelling - Excellent
Punctuation - Good
Grammar - Good
Use of quotations - N/A
Understanding of topic - Good
Application (real life / news / examples) - N/A
Analysis (detailed explanation / how / why) - Good
Evaluation (pros and cons weighed up and concluded) - N/A
Presentation (use of images / layout / style) - Satisfactory

Your work might be even better if…

You add a real life Business example or news story related to the topic (makes it more memorable and examiners love that)
Add bigger headings between definitions
Complete missing key terms


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