Option for start-up businesses

• What is the focus of the lesson in this video?

  Options for startup and small businesses
• What does limited liability mean for business owners?

  Owners are not personally liable for debts
• What are the two types of liability discussed?

  Limited and unlimited liability
• How does limited liability protect personal assets?

  It separates personal assets from business debts
• What is the total liability limit for a limited liability company in the UK?

  Total value of unpaid shares
• What can a UK limited liability company do?

  Open a bank account and purchase property
• What is a key feature of a limited liability company structure?

  Organized management structure
• What are the four types of limited liability companies?

  Private limited, limited by shares, limited by guarantee, public limited
• Why is limited liability attractive for new business owners?

  It reduces personal financial risk
• What is the liability of a solo trader?

  Unlimited liability for business debts
• How does unlimited liability affect a solo trader?

  Personal assets can be seized for debts
• What is a partnership?

  A business owned by two or more people
• What are the two types of partnerships?

  General partnership and limited partnership
• What is a joint venture?

  A short-term project between multiple partners
• What are the advantages of partnerships?

  Easy to set up and share resources
• What is a disadvantage of partnerships?

  Differences of opinion can threaten the business
• What is a private limited company?

  A business entity limiting owner liability to shares
• What are the advantages of a private limited company?

  Limited liability and restricted share sales
• What is a disadvantage of a private limited company?

  Shares cannot be sold on public exchanges
• How do profits differ between a sole trader and a private limited company?

  Sole traders keep all profits; limited companies share profits
• What is franchising?

  Allowing a third party to operate under a trade name
• What are the three main types of franchises?

  Business format, product distribution, manufacturing
• What is a business format franchise?

  A franchise allowing use of branding and support
• What is a product distribution franchise?

  Franchise selling products with branding but no support
• What is a manufacturing franchise?

  Franchise licensed to produce goods using brand name
• What are the advantages of franchising?

  Reduced risk and established market share
• What are the disadvantages of franchising?

  Higher costs and restrictions on business operations
• How does a franchisee's profit sharing work?

  Profits are shared with the franchisor
• What should viewers do after watching the video?

  Comment answers to questions and subscribe
• What are the key points viewers are asked to comment on?

  Types of limited liability companies and franchises