What impact does business structure have on the success of the business?

Treating the question like an essay question, run through with the student how to structure an answer for, perhaps, a short 8 mark essay question. Begin by listing the main business structures (sole trader, partnership, LTD, PLC), and focus on the level of skill and expertise each one requires, as well as responsbility - ie sole traders have more responsibiltiy and require a greater level of expertise and business knowledge, meaning added pressure if not managed properly would impact business success. Encourage students to compare business structures but consider each one critically - beyond strengths and weaknesses of each, what do these strengths and weaknesses depend on? Is the business structure the only influencing factor in success? Use these questions to form an evaluative statement that would be used in the conclusion.

GR

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