Part 2

Question 1

Limited company ?

Answer 1

• Ownership is divided into equal parts called shares
• Limited liability
• Has to be registered with the cro (companies registration office)

Question 2

Two types of limited companies:

Answer 2

A private limited company (ltd)

A public limited company (plc)

Question 3

Advantages of a limited company

Answer 3

• Limited liability
• Low tax
• Company name is protected

Question 4

Drawbacks of a limited company

Answer 4

• Compliance: More rules to follow with a limited company

- Higher costs to start and close the business