When a business is just ____, it will begin as a sole trader, partnership or private limited company. ____ limited companies are not used for start-ups (businesses just starting). One consideration for start-ups is the amount of ____ required. If the amount is small, then someone could easily find the finance and open as a ____ trader. If a larger amount of money is required, then a ____ or private limited company may be appropriate because there will be more than one person providing capital. Limited ____ can be useful for start-ups. If a person has large personal wealth, they may not want to put that at ____ if a new business fails with large ____. Here, a private limited company would be appropriate because liability (____ for debts) is limited to the amount invested in the business. In this way, a person who puts ____ into a private limited company will know clearly just what their level of risk is, and ____ possessions are protected. A single person starting a business on their own may feel that they do not have the ____ to run a business. They may benefit from a ____ who can bring in other skills to help the business run smoothly and take some pressure off a single owner. Private limited companies are more ____ to set up and operate, so this may not be ____ to someone setting up a simple one-person business. Sole ____ would be a better choice.

1.3 Suitability (Start-ups)

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