What is the simplest way to set up and run a business?
Register as a self-employed (sole trader).
In this form of company, there is no restriction to the responsibility.
General partnership (unlimited partnership).
What is the difference between joint liability and several liability?
Joint - responsible together as a group, several - responsible individually.
Have you ever drawn up a partnership agreement? What should be stipulated in it?
:)Names of partners, partnership name, capital contribution of partners, share of profits/losses, drawings ...
What is the authorised minimum to incorporate a general partnership? Does every partner have to contribute equally?
:)
Why might the partners want to expel one of them from the partnership?
:)
What is the difference between a dormant (sleeping/silent) partner and an equity partner?
:)
What do monthly drawings of each partner in a general partnership depend on?
:)
What is the role of a partner's personal assets in a limited liability partnership?
:)
Does the registry of companies provide information about all types of companies?
:)
What is the nominal value of a share?
The fixed value of each share.
What can one do in the Companies House?
:)
Are all types of businesses legal personalities/legal entities?
:)
Why might a shareholder not receive a dividend?
:)
What should be done for shares to be listed on the stock exchange?
:)
What are the reasons for a business to be wound up?
:)
