Explore
Learn: Ownership
AQA GCSE Business 8132
Ready to start this lesson?
Sign in to track your progress. 17 steps including 8 interactive questions.
Sign In to Start Learning
Students also studied
Browse allSteps in this lesson (17)
Welcome!Today we'll learn about Ownership in business. Ownership refers to the different ways a business can be set up and owned. Let’s explore the types and their characteristics step by step!
What is Ownership?Ownership refers to the legal structure of a business and who is responsible for it. It determines how decisions are made, how profits are shared, and the level of risk and control.
Sole TraderA sole trader is a business owned and run by one person. The owner has full control and keeps all profits, but they also have unlimited liability, meaning they are personally responsible for debts.
Quick check: What is a key characteristic of a sole trader?
Start the lesson to answer this multiple choice question
PartnershipA partnership is a business owned by two or more people who share the responsibilities, decisions, and profits. Partnerships also have unlimited liability, meaning all partners are personally responsible for the business’s debts.
Match the items on the left with their correct pairs on the right
Start the lesson to answer this matching question
Private Limited Company (Ltd)A private limited company (Ltd) is owned by shareholders, but shares cannot be sold to the public. Shareholders have limited liability, meaning they only lose the money they invested if the business fails.
In a private limited company, shareholders have {{blank0}} liability, which means they only lose the money they {{blank1}}.
Start the lesson to answer this fill in the blank question
Public Limited Company (Plc)A public limited company (Plc) is owned by shareholders, but its shares are traded on the stock exchange. Like an Ltd, shareholders have limited liability. This type of ownership is suitable for larger companies.
What are features of a public limited company? (Select all that apply)
Start the lesson to answer this multi-select question
Not-for-Profit OrganisationsNot-for-profit organisations are businesses set up to provide services or support rather than make a profit. Examples include charities and community groups.
What is the main aim of a not-for-profit organisation?
Start the lesson to answer this multiple choice question
Review Time!Great work! You've learned about different types of business ownership. Let's test your understanding with a few questions.
Which business type offers limited liability but sells shares privately?
Start the lesson to answer this multiple choice question
Which of the following are true about sole traders? (Select all that apply)
Start the lesson to answer this multi-select question
A public limited company trades its shares on the {{blank0}} exchange and is suitable for {{blank1}} organisations.
Start the lesson to answer this fill in the blank question
Well done!You've completed the lesson on ownership. Understanding these structures is key to knowing how businesses operate and succeed.
Want to Learn More?
Get personalised lessons, quizzes, and instant feedback from your AI tutor.
Explore More Topics