Types of businesses

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Last updated 10:01 AM on 10/11/26
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9 Terms

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Public Limited Company (PLC)

Large business with many shareholders, can offer shares to the public.

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Private Limited Company

Privately owned, shares cannot be publicly traded on any stock exchange.

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Limited Company

Incorporated business with a separate legal identity to owners and shareholders.

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Cooperative

Democratically run organization owned and run by members for members.

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Limited Liability Partnership (LLP)

Incorporated entity where partners have limited liability and are taxed individually.

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Ordinary Partnership

Unincorporated business where partners are jointly and severally liable for debts.

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Sole Trader

Single owner with full control, simple setup, and full liability.

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PLC Share Capital Requirement

Must have at least £50,000 worth of issued shares.

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Accounts Filing: PLC vs Ltd

PLCs file full accounts; Ltds file abbreviated accounts.