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PLC -owned by 50 or less shareholders -shareholders have no control over business -shareholders are not responsible for any debts or losses -shareholders only forfeit their investments -more banks are willing to lend money due to more business assets to serve as collaterals SP -owned by one person...

PLC -owned by 50 or less shareholders -shareholders have no control over business -shareholders are not responsible for any debts or losses -shareholders only forfeit their investments -more banks are willing to lend money due to more business assets to serve as collaterals SP -owned by one person -less likely for banks to lend money as lack of personal assets to serve as collateral -funds are limited to owners fund’s -owner may need to pay business debts and losses using personal assets -owner has full control over business -business can exist until owner is dead LLP -owned by two or more people -more likely for banks to lend money due to more personal assets to serve as collaterals -can get more people to join and contribute capital -partners are not liable for debts and losses of business -only partner responsible for debts and losses will be liable -exists until wound up or struck off