| A | B |
|---|
| Unlimited liability | when you can lose your investment and your own personal possessions |
| limited liability | only lose the amount invested |
| dividend | return on investment |
| bank loan | a form of finance from the bank |
| sole trader | a business owned and run by one person |
| specialisation | when you become a specialist in one particular area |
| PLC | public limited company |
| LTD | private limited company |
| general partner | has limited liability |
| sleeping partner | a partner who does not take part in the day to day running of a business |
| Trading certificate | certificate of incorporation |
| deed of partnership | legal document whci states the rights of partners |
| Partnership | a business organisation formed by 2-20 people |
| PLC | an organisation which reuires a minimum start up capital of £50000 |
| LTD | maximum number of shareholders is 50 |
| Shares | Either Ordinary of Fixed |
| Grant | Money given to a new business by the government |
