Business y9

Cards (11)

  • Want
    Something a person would like to have
  • Want example
    Ipad
  • Need
    Required to live
  • need example
    Water
  • How to make a product sustainable?
    Eco friendly materials, reduce amount of material used, reusable
  • which sector is a service?
    tertiary
  • What are the factors of where you place your business?
    Location, price, competition, environment
  • what are sole trader pros
    You only own it, you’re the boss, you keep all profit
  • What are sole trader cons?

    unlimited liability, stressfull making all decisions, difficult to raise finance, don’t have all skills for a business
  • What are a private limited company’s cons?
    Directors’ legal duties strict, shareholders have to agree about profit distribution, bigger administrative costs than sole trader
  • What are a private limited company‘s pros?
    Limited liability, easier to raise finance as comany can sell shares, stable form of structure-company continues even when shareholders change