Watch this video if you want to understand the different types of business ownership an entrepreneur has to choose from.
An entrepreneur can choose to run their business in a number of ways including, as a sole trader, in a partnership or even as a private limited company amongst other options.
However, each of these will influence the business throughout its existence, such as the owners financial liability if the business runs into financial difficulty, how the business pays tax, and the way management decisions are made about the business.
This video will introduce the common options a business owner has alongside some benefits and drawbacks of each with supporting examples.
A free activity worksheet is available to download to allow students the oppourtunity to apply their knowledge of business ownership types after watching this video: https://www.tes.com/teaching-resource/types-of-business-ownership-video-and-activity-resource-12302686
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