Business Ownership means that a person, group or organization has complete authority and control over a business. It decides who is the owner of the business, who will get the profit and who will take the decision.
Main types of Business Ownership:
Sole Proprietorship
One person is the owner.
It is easy and starts at low cost.
He gets all the profit.
He is also responsible for the loss and debt.
Partnership
Two or more people run the business together.
There is a partnership in profit and loss.
A partnership deed is made.
Limited Liability Partnership (LLP)
The personal property of the partner gets protection.
It has more legal recognition.
Private Limited Company (Pvt. Ltd.)
There can be 2 to 200 shareholders.
A good option for increasing investment.
Ownership is according to the share.
Public Limited Company
Shares can be sold to the public.
Capital can be raised on a large scale.
Subject to SEBI regulations.
Co-operative Society
Members run the business together.
Profits are distributed among all members.
Franchise Ownership
A person runs his business under the name of a famous brand.
The brand name is available but some fee has to be paid.
If you tell me what type of business you have or what you want to start, I can help you choose the right ownership.
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