Topics covered: Sole trader and Partnership
• Meaning.
• Unlimited liability.
• Tertiary sector.
• Business location.
Zeena set up a business as a sole trader running a nursery for small children too young to go to school. Zeena’s venture is successful and has opened a number of new nurseries.
Zeenatook on a business partner Mona in 2018. Growth has continued and now the business has 10 nurseries in different towns and villages. Zeena is planning to open another nursery and is looking for a suitable location.
Questions:
a) What is meant by the term ‘sole trader’? [2 marks]
b) Identify and explain two advantages for Zeena accepting Mona as per business partner. [4 marks]
c) A nursery school is classified as a tertiary sector activity. Identify two other examples of businesses that are also in the tertiary sector. [2 marks]
d) Identify and explain two factors Sarah should consider when choosing a suitable location for a new nursery [4 marks]
