Business
What is a business? A business is an organized approach to providing customers with the goods and services they want. The word business also refers to an organisation that provides these goods and services. ... Describe the main legal entities a business can choose from There are many types of businesses that can be run. ... These businesses are also the cheapest and quickest way to establish a profitable business. Sole traders are usually owned by a family with little or no employees and the business disappears when the owner dies. ... Partnerships are another way of starting a business it is where between 2-20 people own and run the business. ... This business also carries unlimited liability therefore; all owners would be liable for the businesses debts instead of just one person. ... A joint venture is a partnership agreement in which two or more individuals or group run businesses joined to carry out a single business project. Trust is a group of individuals or corporations formed to conduct a specific financial transaction such as buying a business.