What I may already know: • There are different types of business.
Learning Intentions
In this chapter, I will learn: • The different types of business. • The features of each type of business. • The difference between unlimited liability and limited liability.
Key Words: Sole trader Capital
Unlimited liability Private limited company Shareholder Dividend
Limited liability
Private company limited by shares (CLS)
Designated activity company (DAC)
Annual general meeting (AGM)
Public limited company Stock exchange
State-sponsored body Monopoly Privatisation Franchise Franchisor Franchisee Co-operative
WHAT ARE THE MAIN TYPES OF BUSINESS? As consumers, we interact with many types of business. For
example, in a typical Irish town you would find a grocery shop, a hairdresser’s, a taxi company, a petrol station and a post office.
Different types of business are set up and run in different ways.
