PRIVATE OWNERSHIP IS ____________________________________________________
________________________________________________________________________
________________________________________________________________________
PUBLIC OWNERSHIP IS _____________________________________________________
________________________________________________________________________
________________________________________________________________________
Some business are under ________
ownership and controlled by the
state
Many are _________
enterprises e.g
newsagents,
hairdressers
Run by the _______
on behalf of others
A business
can also be
controlled
by _______,
who
oversee, the
business
affairs.
e.g __________
Most businesses are
under ___________
ownership
But some are
much _______
e.g Arcadia
Group
Small businesses _______and
run by __ person, partnerships
or family run e.g Warbutons
Individuals run the
businesses to make a
_________ so they
can survive
As discussed there are many reasons as to why people would want to have private ownership
of a business…..
1. To make a ______so they can survive, so that is why they charge a price for their goods or
services
2. Being a private owner of a business means _____keep all the ______. So any extra money
you have made when paying off your tax and expenses is all yours!!!
___________________________
TASK:
Can you
remember
which is
which?
___________________________________
_________________
_________________
As I explain the
different types of
privately owned
business
YOUR task is to fill in
the missing words
when I finish
speaking…
The ___________ type of business. It is owned by just ______person even
though there maybe many employees. The sole trader is
___________________for _________aspect of the __________ from keeping
the premises clean to managing the accounts.
Examples of sole traders businesses are……
_____________
Hairdressers
Florists
Keeps all the PROFIT
after paying tax
Owned and run by ______ or more people. The ‘partners’ are _________
responsible for running the business. Most partnerships are ________.
Examples are solicitors, ________, accountants and doctors.
Easy to identify as it’s name always ends in _______. It has a few ________and
each owner has a _________of the business. They are then known as a
shareholder. If the company is successful then each shareholder gets a financial
reward called ______________.
The owners of a ‘LTD’ have two roles, they are shareholders but they are also
directors and therefore run the company.
This is the case for many family run businesses.
The ___________ type of private business. These companies end their name with
_________. The shares are usually traded on the stock exchange and can be owned by
the members of the __________and institutional investors such as banks.
The directors are paid a salary to run the company and can chose whether to own
shares or not. This type of business can raise a large amount of money by __________
shares and can use the money to develop their enterprise.
Sole Trader
Partnerships
LTD
PLC