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Business Studies IGCSEPDF 41
212 pagesrevision 46931
PDF 41
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Advantages
Greater access to funds
Shared decision-making
Easy to set up a deed of
partnership
Shared management and
workload
All profit goes to the owner
Direct contact with customers
Complete secrecy in business
matters
Unlimited liability
Partners share the profit
Disadvantages
Difficult to raise finance/capital
Business ceases to exist if one
partner leaves
Decisions binding on all partners
Difficult to compete with large
firms
Decisions can be hard to make
Difficult to compete with larger
firms
Advantages and Disadvantages of Being a Partnership
Advantages and Disadvantages of Being a Private Limited Company