Beruflich Dokumente
Kultur Dokumente
SOLE TRADER
Formation
PARTNERSHIP
Easy to set up
No need to register
own name
May need license
(pub, etc.)
Easy to set up
Usually involves a deed
of partnership
PRIVATE LIMITED
COMPANY (LTD)
Ownership
1 owner
Owners Liability
Unlimited liability
Dissolution
Dissolution on
retirement/death of
owner
Management and
Decision Making
Finance
Owner has
complete control
and makes all
decisions
High level of
responsibility
Lack of capital
Reliance on
savings and small
loans
More capital
Less risk
CO-OPERATIVE
Up to 99 shareholders
Form A1 required
Memorandum of
Association
Articles of Association
Must register with
CRO who issue
Certificate of
Incorporation
Shareholders (2-50)
1 share= 1 vote
Limited liability
(Company has
separate legal entity to
its owners)
Dissolution by
agreement, bankruptcy
or court order
Company continues
even if shareholders
change
Board of Directors
manage company
CEO and managers
coordinate day to day
activities
Minimum of 7 members
Register with Registrar of
Friendly Societies
Shareholders (Min 7)
1 share= 1 vote
Limited liability
Dissolution by agreement,
bankruptcy or court order
Co-op continues even if
shareholders change
Board elected by
shareholders but members
may work in the Co-op
Additional capital
available by issuing
new shares or the
transfer of existing
shares
Distribution of
Profits
Easier to borrow
Profits shared in the
form of a dividend
Sole Trader
Definition:
Partnership
Definition:
Advantages
Disadvantages
Co-Operative
Definition: