Learning Outcome One (Element One)
1.1) Self-employment options existing for business
There are several self-employment options such as sole trader, partnership, franchise, social enterprise as well as cooperative in nature. As commented by (), for the sole trader, the employment of the staff and handling responsibilities is a major criterion. In case of partnership, it involves pooling the expertise that of the two or additional persons involved. The limited company also focuses towards the companies to run having their own obligations as well as legal rights. For franchise, the already established business gives right the franchisee in using their business model. The social environment operates in benefiting the society along with the environment for achieving their objectives ().