SOLE TRADER
A BUSINESS OWNED BY ONE PERSON.
WHAT IS A SOLE TRADER/SOLE PROPRIETORSHIP
BUSINESS PARTNER THAT IS LIABLE FOR EVERYTHING THE BUSINESS DOES AND HAS MANAGEMENT RESPONSIBILITIES.
OWNERS ARE CALLED MEMBERS, PROFIT ARE RE-INVESTED INTO THE BUSINESS, ALL MEMBERS HAVE VOTING RIGHTS.
WHAT ARE CHARACTERISTICS OF CO-OPERATIVES?
SHAREHOLDERS ARE FREE TO SELL TO ANYONE, LARGER SOURCE OF CAPITAL.
LEARNED ABILITY TO PERFORMED AN ACTION WITH DETERMINED RESULTS WITH GOOD EXECUTION OFTEN WITH IN A GIVEN AMOUNT OF TIME, ENERGY OR BOTH.
WHAT IS A SKILL?
TRUE/FALSE: SIMPLEST FORM OF BUSINESS OWNERSHIP AND THE EASIEST TO START UP.
WHAT IS TRUE
A WRITTEN AGREEMENT BETWEEN PARTNERS THAT SPECIFIES THEIR OBLIGATIONS AND CONTRIBUTIONS.
WHAT IS A PARTNERSHIP DEED?
JAMAICA AGRICULTURAL SOCIETY (J.A.S), CREDIT UNIONS, FISHERMAN'S FEDERATION.
WHAT ARE EXAMPLES OF CO-OPERATIVES IN JAMAICA?
MANAGE THE DAY TO DAY OPERATION OF A COMPANY.
WHAT IS A DIRECTOR?
FINANCIAL MANAGEMENT, LEADERSHIP, PROBLEM SOLVING AND DECISION MAKING.
WHAT ARE SOME SKILLS ESSENTIAL FOR BUSINESS OWNERSHIP.
TRUE/ FALSE; THE MOST POPULAR FORM OF BUSINESS OWNERSHIP.
WHAT IS TRUE?
NO MANAGEMENT RESPONSIBILITY OR LIABILITY FOR LOSSES BEYOND WHAT THE INDIVIDUAL INVESTED.
CONSUMERS, PRODUCERS, FINANCIAL AND WORKERS.
WHAT ARE TYPES OF CO-OPERATIVES?
SHARES ARE NOT ISSUED ON STOCK EXCHANGE, NOT ALLOWED TO ADVERTISE THE SALE OF ITS SHARE TO THE GENERAL PUBLIC TO RAISE CAPITAL.
WHAT ARE CHARACTERISTICS OF A PRIVATE COMPANY?
PROFESSIONAL CERTIFICATION, TRADE CERTIFICATION OR PROFESSIONAL DESIGNATION, OFTEN CALLED SIMPLY CERTIFICATION.
WHAT ARE QUALIFICATIONS?
EASY START -UP, ALL PROFITS BELONG TO THE OWNER, TO BE YOUR OWN BOSS.
WHAT ARE ADVANTAGES OF A SOLE TRADER/PROPRIETORSHIP
SHARING OF BURDEN, ACCESS TO KNOWLEDGE, SKILLS, EXPERIENCE AND CONTACT, MORE CAPITAL
WHAT ARE ADVANTAGES OF PARTNERSHIP?
MEMBERS ENJOY LIMITED LIABILITY, EQUAL DECISION MAKING RIGHT, HELP EACH OTHERS MEET COMMON OBJECTIVES.
WHAT ARE ADVANTAGES OF CO-OPERATIVES?
THERE IS LITTLE PRIVACY AS ACCOUNTS MUST BE PUBLISHED ANNUALLY, SHAREHOLDERS ARE ABLE TO VOTE FOR DIRECTORS BUT HAVE NO INPUT IN POLICY DECISION REGARDING THE DAY TO DAY OPERATION.
WHAT ARE DISADVANTAGES OF A PUBLIC LIMITED COMPANY?
TAKING A COURSE, ATTEND EVENTS OR WORKSHOP, SEEK OUT EXPERIENCED MENTOR.
WHAT ARE WAYS TO IMPROVE ENTREPRENEURIAL SKILLS?
UNLIMITED LIABILITY, LACK OF MONEY, LIMITED MANAGEMENT SKILLS, IF THE OWNER DIE THE BUSINESS ENDS.
WHAT ARE DISADVANTAGES OF A SOLE TRADER/SOLE PROPRIETORSHIP?
DISAGREEMENTS, COMPLICATE DECISION MAKING.
WHAT ARE DISADVANTAGES OF PARTNERSHIP?
MEMBERS MAY LACK RELEVANT MANAGEMENT SKILLS, LITTLE OR NO PROFIT, DECISION MAKING PROCESS IS SLOW.
WHAT ARE DISADVANTAGES OF CO-OPERATIVES?
THE SHAREHOLDERS HAVE LIMITED LIABILITY, BRAND IS ABLE TO MAINTAIN SINCE YOU CONTROL WHO BUY THE SHARES.
WHAT ARE ADVANTAGES OF A PRIVATE COMPANY?
THE ABILITIES YOU USE WHEN GIVING AND RECEIVING DIFFERENT KINDS OF INFORMATION.
WHAT ARE COMMUNICATION SKILLS.