Forms of business

• Sole trader = a business owned and run by one person, with no separate legal identity from the owner
• Partnership = two or more people owning and running a business together, with no separate legal identity from the owners
• Private limited company = a type of limited company where ownership is restricted to a small number of individuals. the liability of shareholders for the debts of the company is limited
• Franchising = the right given by one business to another to sell goods using its name.
• Social enterprise = businesses that put the interests of people and planet ahead of shareholder gain
• lifestyle business = type of business that is designed to allow the owner to live a particular lifestyle of their choosing