Pixel Repair is a profitable phone-repair business owned by Sami. He wants to open a second kiosk and needs £35,000. Sami values complete control, but he is concerned that a long lease and supplier debts could put his personal savings at risk.
Option 1: Remain a sole trader
Option 2: Form a private limited company
Justify which one of these two ownership options Sami should choose.
37 exam-style questions on Edexcel GCSE Business 1.4 Making the business effective, covering 1.4.1a Limited liability, 1.4.1b Types of business ownership for start-ups, 1.4.1c Franchising, 1.4.2a Factors influencing business location, 1.4.2b Impact of the internet on location, 1.4.3a What the marketing mix is, 1.4.3b Balancing the marketing mix, 1.4.3c Impact of technology on the marketing mix, 1.4.4a The role and importance of a business plan, and 1.4.4b The purpose of planning business activity. Each one has a worked solution and a mark scheme showing where the marks go.