Appropriate legal structure

sole traders, partnerships and shareholders.

sole trader

A sole trader is one person who works for themselves.


A partnership is a group of people between 2 and 20 working together.


shareholders is many people which all own a small part of a business.

private limited company

a private limited company (PLC) is a business which can only be owned by family and friends.

unlimited + limited liability

unlimited liability is where if your company loses significant amounts of money unlimited amounts of personal pocessions can be taken however limited liability only a limited amount of things can be taken.

public limited company

(PLC) this is a company which can be owned by people of the public

pros of a sole trader

make your own decisions

work as many hours as you want

keep all profit

cons of a sole trader


may overwork

unlimited/limited liability

pros of a limited company

raise lots of money

gain more customers

cons of a limited company

no outside investers

may take longer to expand

why change your legal status?

by changing your legal status you are automatically increasing your reputation and chance of being famous which results in outside investors helping your company expand into the future.

Comment Stream

2 years ago

this a very good piece of work Kieran so proud of u :~)

2 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 - Satisfactory
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


Merit (s)

2 years ago

k den