The types of business ownership for growing businesses:

• A private limited company (Ltd) has limited liability for its shareholders.

  True
• A partnership involves shared decision-making between partners.


  True
• A sole trader is personally liable for all business debts
• Why might a business change its ownership structure as it grows?

  Facilitate expansion
• What is a key feature of a partnership in terms of ownership?

  Shared between partners
• Partners in a partnership are jointly and severally liable for business debts.


  True
• What is a limited company in business terms?

  A separate legal entity from its owners
• Match the type of limited company with its feature:

  Private Limited Company (Ltd) ↔️ Shares not publicly traded

  Public Limited Company (PLC) ↔️ Shares traded on a stock exchange
• A PLC is more heavily regulated
• In a franchise agreement, the franchisee pays a fee to use the franchisor's brand
• A sole proprietorship is owned and controlled by a single individual
• The choice of business ownership structure depends on factors like control, finance, and liability
• As a business grows, it may need to change its type of ownership
• In a Partnership, profits and losses are shared
• Shareholders in a PLC have limited liability.


  True
• A franchise operates under a standardized business model that the franchisee must follow.


  True
• What is business growth defined as?

  Expansion in size, sales, profits, or market share
• What factors influence the choice of business ownership structure?

  Control, finance, liability exposure
• What are the key advantages of a sole trader structure?

  Complete control, direct profits
• The sole trader structure is the simplest and quickest to establish.


  True
• A sole trader has full control over business operations and decisions
• What is a partnership in business terms?

  A business owned by two or more people
• How does the ease of setting up a partnership compare to establishing a company?

  It is relatively easier
• A private limited company is owned by shareholders with limited liability
• What type of ownership does a PLC have?

  Owned by public shareholders
• Why is it easier for a PLC to raise capital compared to an Ltd?

  Through public share offerings
• Franchises operate under a standardized business model.

  True
• Match the type of business ownership with its definition:

  Sole Proprietorship ↔️ Owned and controlled by a single individual

  Partnership ↔️ Owned by two or more people sharing profits

  Private Limited Company (Ltd) ↔️ Owned by shareholders with limited liability

  Public Limited Company (PLC) ↔️ Shares traded on a stock exchange
• Match the type of business ownership with its definition:

  Sole Proprietorship ↔️ Owned by a single individual

  Partnership ↔️ Owned by two or more people

  Private Limited Company (Ltd) ↔️ Owned by shareholders with limited liability

  Public Limited Company (PLC) ↔️ Shares traded on a stock exchange
• A Sole Trader is personally liable for all business debts.


  True
• In a Partnership, partners are jointly and severally liable for business debts.


  True
• What is one advantage of a PLC over an Ltd in terms of financing?

  Easier to raise capital
• What is one benefit of franchising for a business looking to expand?

  Brand recognition
• What is a common growth strategy for businesses using joint ventures?

  Expanding into new markets
• A partnership is a business owned by two or more people who share the profits and losses
• A sole proprietorship is a business owned and controlled by a single individual
• Match the business ownership type with its definition:

  Sole Proprietorship ↔️ Owned by a single individual

  Partnership ↔️ Shared ownership and profits

  Private Limited Company ↔️ Limited liability for shareholders

  Public Limited Company ↔️ Shares traded on a stock exchange
• In a partnership, partners share both profits and losses.


  True
• In a partnership, ownership is shared between two or more partners
• Partnerships provide more resources and expertise than a sole trader