Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages.

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The Holmes family is conducting the type of business that can be defined as a small, family-owned, private limited company. The company is not large, employs less than 50 workers, is owned by one family, and, probably, does not publicly trade its shares, which means that it is a private limited company.

The advantages of this type of business include limited liability, continued existence that persists even after the company’s owner’s death, the possibility of raising capital through selling shares, and lower taxes. The disadvantages of a private limited company include restricted trade of shares, owners’ limited personal control over the company’s operations, and increased legal compliance.

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Academic.Tips. (2022) 'Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages'. 27 January.

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Academic.Tips. (2022, January 27). Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages. https://academic.tips/question/identify-and-define-the-type-of-business-the-holmes-family-is-conducting-justify-your-answer-list-its-advantages-and-disadvantages/

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Academic.Tips. 2022. "Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages." January 27, 2022. https://academic.tips/question/identify-and-define-the-type-of-business-the-holmes-family-is-conducting-justify-your-answer-list-its-advantages-and-disadvantages/.

1. Academic.Tips. "Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages." January 27, 2022. https://academic.tips/question/identify-and-define-the-type-of-business-the-holmes-family-is-conducting-justify-your-answer-list-its-advantages-and-disadvantages/.

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Academic.Tips. "Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages." January 27, 2022. https://academic.tips/question/identify-and-define-the-type-of-business-the-holmes-family-is-conducting-justify-your-answer-list-its-advantages-and-disadvantages/.

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"Identify and define the type of business the Holmes family is conducting. Justify your answer. List its advantages and disadvantages." Academic.Tips, 27 Jan. 2022, academic.tips/question/identify-and-define-the-type-of-business-the-holmes-family-is-conducting-justify-your-answer-list-its-advantages-and-disadvantages/.

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