Business plan
...mmon in catering, engineering, farming, printing and dressmaking. Most of them are small with only a dozen or so members. Franchise- is another form of co-operation between a big firm and a sole trader. The big firm has a well-known product with its own brand name such as McDonald. Then someone (franchisee) pays as initial fee and royalty payments for the privilege of trading under that firm name. Limited companies- firms whose financial liabilities are limited to the amount of the money put up by the shareholders. Private limited companies must have two or more shareholders. Their shares cannot be sold to the general public. With public limited companies, there is no upper limit to the number of shareholders. The shares can be bought and sold on the stock exchange. My business would be a sole trader. Advantages: You are in complete control of the business and can run it the way you like it. No one else can tell you what to do. It is very easy to set up the business. You keep all the profit With many kind of self-employment, you only need a small amount of capital to start. You obtain great job satisfaction. Disadvantages: There is usually great competi...