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Business Ownership

Published on Mar 30, 2016

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1.

Sole Trader

  • One person owning a business.
  • Can employ multiple.
  • Simple to setup.
  • Most common form of ownership
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2.

Partnership

  • A business owned by 2 – 20 people.
  • They share skills, responsibilities and workload.
  • Must have paperwork set up to lay out duties and percentage of ownership.
Photo by Broad Bean Media
3.

Franchise

  • Owned by individuals but they pay a fee to be a part of a successful franchise and benefit from their product range, name and marketing.
  • An example is Subway
Photo by Kake .
4.

Co-operative

  • The basic idea of a cooperative is that people join together and share profits.
  • They usually don’t aim for maximum profit, but run the business following honest principles.
Photo by The Climate Coalition (UK)

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