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...Introduction when an entrepreneur decides to take the risk of setting up a new business they have many important decisions make including ownership structure location sources finance production method decision private sole trader partnership limited co operative company is owned and run by one person makes all advantages easy set there are few legal requirements unless licence needed trade keep profits owner gets making has complete control over be made confidentiality traders not required law publish their financial accounts so position remains confidential disadvantages unlimited liability personally responsible for businesses debts losses no continuity existence dies or retires may close down if nobody else it stress can experience high levels due long working hours raising lack capital difficulty obtaining from institutions as seen having failure...