The different types ... business organisation to be found ... the UK may be classified ... five headings. 2. This is the simplest form ... business enterprise and is often referred ... as the one person business. 3. He is solely responsible ... the success ... the business. 4. The strength ... this type ... firm lies ... the direct personal interest ... the proprietor in the efficiency ... his business. 5. The owner is personally liable ... the debts incurred ... his firm. 6. All his personal possessions are ... risk. 7. Another disadvantage ... the type of firm is the strict limitation ... its ability to acquire capital ... expansion. 8. Finance is restricted ... the amounts which the entrepreneur is able to provide ... his own resources and whatever sums he can borrow ... his own security.
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