Types of Business Organization

• Sole Trader


  • Owned by 1 person
  • Unlimited liability
  • I make decisions
  • Only person
• Partnership


  • Owned by 2+ people
  • Unlimited liability
  • Share profits
• Limited Liability Company


  • Owned by 1-20 persons
  • Many owners (shareholders)
  • Limited liability
  • Dividends shared
• Co-operatives


  • Owned by its members
  • Created for the benefit of members
• Non-profit Organisations


  • Not interested in profits
  • Created to assist people in need