Theme: Types of companies. Reading and vocabulary 2) Read and complete the company descriptions below using the words in the boxes.

1. capital, liability, accountants, share

This is for between two and 20 peaple, and very often it is a group of doctors or (1). who set up this type of business. Each person has an equal (2) in making decisions and in whatever profit is made. The more people you have, the more (3)- into the business. However, you are legally responsible for the other people in the business, and you all have unlimited (4). for it. you can put - So if one of you makes a mistake, you all have to pay

2. investment, agreement, accounts, shareholders

This type of company is owned by a small group of individuals, the (5). often the members of one family. You can only sell your shares if the owners are in (6) You have limited liability so you only lose your (7) if the company runs into trouble. You have a lot of paperwork to do as you have to publish your (8) who are very every year.

3. capital, fall, shares, Meeting, shareholder.

Anyone can buy (9) in this company. This is a good type of company if you need to raise (10) in order to to expand and diversify. You have limited liability but you can still lose money if there is a (11). the running of the company unless you are a major (12). vote the same as you at the Annual General (13)_ in the price of your shares. You have little control in or enough other shareholders of shareholders.

4. debts, trading, protit, boss

This is the easiest type of business to start. You simply need a good idea and enough money to start (14) (15). have to work long hours and you have limited liability. That means if you run up (17). you alone have to pay for them. You can organize your work as you want because you are your own and if you make a (16). you keep it for yourself. On the other hand, you

1. This is a partnership company. It is formed by a group of doctors or accountants who set up the business. Each person has an equal share in making decisions and in the profit that is made. The more people there are, the more capital is invested into the business. However, each person is legally responsible for the others in the business, and they all have unlimited liability for it. This means that if one person makes a mistake, everyone in the business has to pay.

2. This is a private limited company. It is owned by a small group of individuals, often members of one family. Shares can only be sold if the other owners agree. In this type of company, shareholders have limited liability, meaning they only lose the money they invested if the company faces financial trouble. There is a lot of paperwork involved as the company has to publish its accounts every year.

3. This is a public limited company. Anyone can buy shares in this company. It is a good type of company for raising capital to expand and diversify. Shareholders have limited liability, but they can still lose money if the company falls. Shareholders have little control unless they are major shareholders who have a vote at the Annual General Meeting. The price of shares can fluctuate depending on the company's performance.

4. This is a sole proprietorship. It is the easiest type of business to start. You just need a good idea and enough money to start trading. As the boss, you have the freedom to organize your work as you want. You have limited liability, meaning you alone are responsible for any debts you incur. If you make a profit, you get to keep it for yourself.

By understanding the different types of companies, we can choose the one that best suits our needs and goals. It is important to consider factors such as liability, decision-making power, and the ability to raise capital when deciding on the type of company to establish.