IB Chapter 1.2 Definitions

A restriction on the amount of money that owners can lose if their business goes bankrupt

non-profit social enterprises that provide voluntary support for good causes

a market place for trading stocks and shares for public limited companies

A type of private sector business owned by 2-20 people with unlimited liability

A feature of ownerships who are legally liable for all money owed to creditors

Revenue generating business with social objectives at the core of their operations.

Finance aimed at entrepreneurs of small businesses who may have difficulty accessing finance

When a government works with the private sector to jointly provide certain goods/services

A business owned by shareholders with a separate legal identity to its owners

Organisations that are wholly owned by the government

for-profit social enterprises set up, owned and run by members, e.g. employees or customers

An incorporated business that allows the general public to buy/sell shares via a stock exchange

When a business sells shares on a stock exchange for the first time

The part of the economy run by government

The part of the economy run by private individuals and businesses rather than government

A business owned by shareholders but shares cannot be bought on stock market

The legal contract signed by the owners of a partnership

Meaning there is a legal difference between the owners and the business itself

A self-employed person who runs & controls a business and is responsible for profits and losses

Private sector not-for-profits operating to benefit others not primarily to make a profit