I think that it is very important to talk about the different kinds of businesses existing in the UK.
This is because it is part of Bennett Brooks' job to take care of different kind of businesses and then because it is a business itself.
A sole trader is a held personal liable for his business borrowings and to any creditors if his business fails. He will also be held personally liable for any claims that are not covered by insurance.
A limited company is registered at Companies House and is a separate legal entity. A company can have buildings, debts, and loans it has to pay back. It is not a person, so if a company goes bankrupt, directors are not responsible for it, no one is responsible for it, and shareholders are only responsible up
This is because it is part of Bennett Brooks' job to take care of different kind of businesses and then because it is a business itself.
A sole trader is a held personal liable for his business borrowings and to any creditors if his business fails. He will also be held personally liable for any claims that are not covered by insurance.
A limited company is registered at Companies House and is a separate legal entity. A company can have buildings, debts, and loans it has to pay back. It is not a person, so if a company goes bankrupt, directors are not responsible for it, no one is responsible for it, and shareholders are only responsible up