The main types of business organisation in the private sector in the UK are – sole traders, partnerships, companies and franchises. The sole trader is the most common form of business ownership and is found in a wide range of activities (e.g. window cleaning, plumbing, electrical work, busking). In the UK about 20 percent of sole traders operate in the construction industry, a further 20 percent in retailing, and about 10 percent in finance, and 10 percent in catering. No complicated paperwork is required to set…

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