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Essay's paper info
| Topic: |
Business
|
| Number of pages / Number of words: |
3 / 685 |
Essay's paper body
This means that one person makes all the decisions and is responsible for everything that happens in the business. In case an accident occurs and either the employees or customers are injured, then the sole trader must be responsible for ensuring that the company is covered by the correct insurance policies...
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These people will have no say over how the business is run.
Advantages
? Any profit made after tax is kept by the owner
? Flexibility on hours and on holidays
? Able to make all key decisions
? They are entitled to government support
? Can offer personal services to customers
Disadvantages
? They have unlimited liability, this means that the owner is fully responsible for all debts
? Potential for long working hours
? Pressure of being solely responsible
? Lack of continuity, the business will close down once the owner has died...
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General points of the essay
Business Decisions
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Legal forms of business
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Strategic Business Decisions
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