A4 the Mixed Economy cont Some possible or potential advantages and disadvantages of the various types of company organisation include e The single proprietorship Such businesses are easy to set up and the owner can easily maintain full control. However, because of the limited amount of capital that owners can raise for themselves, such businesses are usually small. Moreover, as owners have to take all the legal and financial responsibilities themselves, in todays strong competition, the single proprietorship is no longer of so much importance in the UK
A 4 the Mixed Economy cont ⧫ Some possible or potential advantages and disadvantages of the various types of company organisation include: ⧫ The single proprietorship ⧫ Such businesses are easy to set up and the owner can easily maintain full control. However, because of the limited amount of capital that owners can raise for themselves, such businesses are usually small. Moreover, as owners have to take all the legal and financial responsibilities themselves, in today’s strong competition, the single proprietorship is no longer of so much importance in the UK
A4 the Mixed Economy cont Partnerships Such businesses can raise larger amount of capital and, consequently, are greatly bigger Partnerships, however, suffer in the same way as do single proprietorships in that each partner is legally liable for all the debts of the firm, even if they have been incurred by the activity of another partner
A 4 the Mixed Economy cont ⧫Partnerships– ⧫ Such businesses can raise larger amount of capital and, consequently, are greatly bigger. Partnerships, however, suffer in the same way as do single proprietorships in that each partner is legally liable for all the debts of the firm, even if they have been incurred by the activity of another partner