$$Business opportunities are like buses, there$$s always another one coming$$

Richard Branson.

Set out and explain the four $(4)$ types of legal businesses recognized by South

African law namely:

$1.$ Sole proprietorships $(7)$

$2.$ Partnerships $(7)$

$3.$ Close corporations $(8)-$ How it is formed;

$-$ How it is terminated;

$-$ Any legislation regulating it and legal implications;

$-$ Pros and cons;

$-$ Any notable features.

$4.$ Private companies