🏢 Legal Structures
A business owned and run by one person.
What is a sole trader?
The ability to keep going when things are difficult.
What is determination?
The ability to speak and listen clearly to others.
What is communication?
Wanting to earn money and improve income.
What is financial motivation?
Something a business sells that you can see and touch.
What is a product?
A business owned by two or more people who share responsibility.
What is a partnership?
Being willing to take chances in business.
What is risk‑taking?
The ability to manage money and budgets.
What are financial skills?
Wanting personal satisfaction, success, or independence.
What is personal motivation?
Something a business provides that does not involve a physical item, such as a haircut or car repair.
What is a service?
An organisation set up to help a cause, not to make profit.
What is a charity?
The ability to think of new and original ideas.
What is creativity?
The ability to plan work and meet deadlines.
What is time management?
Wanting to fix a problem or meet a customer need.
What is problem‑solving motivation?
Things a business owns that help it operate.
What are assets?
A business with limited liability and shareholders.
What is a Ltd company?
Believing in yourself and your ideas.
What is confidence?
The ability to deal with problems and find solutions.
What is problem‑solving?
Wanting to help others or improve society.
What is social responsibility motivation?
Money or debts a business owes to others.
What are liabilities?
A business that uses another company’s brand and systems.
What is a franchise?
The ability to learn from mistakes and keep going.
What is resilience?
The ability to guide and motivate others.
What is leadership?
Wanting to create new ideas or improve existing products or services.
What is the motivation to innovate?
A van, building, or equipment owned by a business.
What is an asset?