The different types ... business organisation to be found ... the UK may be classified ... five headings. 2. This is

The different types of business organisation to be found in the UK may be classified in five headings. 2. This is the simplest form of business enterprise and is often referred to as the one person business. 3. He is solely responsible for the success of the business. 4. The strength of this type of firm lies in the direct personal interest in the proprietor in the efficiency of his business. 5. The owner is personally liable on the debts incurred in his firm. 6. All his personal possessions are under risk. 7. Another disadvantage of the type of firm is the strict limitation in its ability to acquire capital of expansion. 8. Finance is restricted with the amounts which the entrepreneur is able to provide with his own resources and whatever sums he can borrow for his own security.