Could you help me with business English?
Hi, I’m not English and I would know if my written is correct grammatically mainly (if then someone knows the law it’s better):
Company is a form of business organization; there are various forms of organization being available to meet the varying needs of different kinds of firms.
The main forms of private business organization in Britain are the following:
– SOLE TRADER, it’s the simplest form. It requires little capital and it’s controlled by one individual.
One of the disadvantages of this firm is the unlimited liability, in fact the owners are personally responsibles in law for all debts incurred by the firm.
Advantages: the owner has full controll of it and he receives all the profits; this firm is easly set up;
Disadvantages: unlimited liability means that the owner can lose all his personal assets if the business fails; the size of the firm is limited from amount of capital that owner can to invest in it;
– PARTNERSHIP: it consists of two or more persons, but until twenty partners. It is a suitable form of business organization when there is need of more capital that the sole trader, and for obtain this more partners come together. Also in this form of business organization, the liability is unlimited, each partner is legally liable for all firm’s debts, also with partners’ personal assets. This form of firm is created between partners with mutual confidence and it must be registered in the Register of Companies. There are two types of partnership:
1- unlimited partnership, in this type of partnership, all of the partners are liable for the debts of any of the other partners (unlimited liability partners), they have the representation and the administration of the company;
2- limited partnership, in this type of partnership, some partners only contribute capital to the business, and do not take an active role in management limited liability partners).
Thank for help