1. Forms Of Ownership Grade 10

2. acknowledgements This presentation has been designed by N Sibiya with the use of some sources found in the last slide of this presentation. 3. Different forms of ownership Sole trader Partnership Close Corporation Companies 4. Sole trader It is a business managed or owned by only one person. The owner is responsible for day to day running of the business 5. ADVANTAGES AND DISADVANTAGES ADVANTAGES Easy to establish Owner takes all the profit Makes decision on his own DISADVANTAGES Start up costs Responsible for all the functions Unlimited liability 6. Partnership It is a business owned by the minimum of two people to the maximum of twenty. 7. Advantages and disadvantages Advantages shared responsibility Capital is contributed Easy to establish Disadvantages Unlimited liability Lack of continuity 8. Close Corporation An entity owned by the minimum of one person to the maximum of ten people. The name ends with CC. 9. Advantages and disadvantages advantages Limited liability Shared responsibility disadvantages Difficult to start Conflicts may arise 10. companies Two types of companies private and public company 11. Advantages and disadvantages advantages Limited liability Continuity Separate legal entity disadvantages Difficult to start Many requirements needed 12. Reference list http://www.slideshare.net/earlstevens58 http://www.slideshare.net/calibor http://www.slideshare.net/dillyn