...What is a Private Ltd company? * A private limited company incorporates under the laws of England and Wales, Scotland, that of certain Common wealth countries and the Republic of Ireland. * Is a small business such as an independent retailor in a market town. * A private Ltd company is a company that offers limited liability, or legal protection for its shareholders. * Shareholders in private company’s cannot sell or transfer their shares without offering them first to other shareholders for purchase * A private company’s finances are separate from its owner’s finances. * A private company has protection from personal liability to Limited Companies, which makes it easier for a Private Limited Company to borrow money, raise capital and achieve financing without personal risk. * Private Limited Companies have an unlimited life; their existence does not end with a death of shareholder. * A Limited Company is more expensive to set up than a sole trader or partnership. * Owners on limited companies have less personal control over the company compared to sole trades due to compliance issues. * If a company set up by the Act of Parliament, the business may not have limited in their name in the Republic of Ireland, ‘Teoranta’ (Teo) may be used instead. What is a Public Ltd Company? * A Public Ltd Company is a company whose shares may be freely sold and traded to public, with a minimum share capital of £50,000 and the letter PLC after...
Words: 464 - Pages: 2
...Introduction This assessment is about a topic on showing the analyzing and comparing of the differences between Debenhams, which is a Public Limited Company, and Bridal Makeup & Hair by Sarah Elizabeth Abbott, which is the chosen Sole Trader. This essay covers the differences on different aspects of business ownership between Debenhams and Bridal Makeup & Hair, such as their conditions, benefits and risks, which differ considerably. Debenhams Debenhams, a Public Limited Company, is a dominating international and multi-channel British brand, which branches out to 240 stores across 28 nations. Debenhams provides its international customers an exclusive variety of both local and international brands and concessions. Debenhams has been contributing in British design for 20 years through its exclusive Designers at Debenhams portfolio of brands. Bridal Makeup & Hair by Sarah Elizabeth Abbott Sarah Elizabeth Abbott is a sole trader specializing as a freelance makeup artist and hairstyling. She offers a one-on-one consultation for customers to meet their needs and wants for their wedding. Sarah also provides services for other special occasions, such as proms and balls. Bridal Makeup & Hair is based on UK mainly at Hampshire, Dorset, Wiltshire, Berkshire, Sussex and Surrey. Liabilities The sole trader has no partner to share the responsibility of running the business with, hence a sole trader has unlimited liability. In this case, Bridal Makeup...
Words: 1272 - Pages: 6
...Founded: BLL was incorporated in 1960 About company: BLL is the pre-eminent manufacturer of electric light bulbs in the country. The company has an exclusive licensing agreement with PHILIPS Electronics N.V. Holland, under which it manufacturers PHILIPS lighting products. BLL was incorporated in 1960 as a subsidiary of PHILIPS, Holland. In March 1993, PHILIPS sold its entire shares to TRANSCOM Latifur Rahman Chairman/CEO/Managing Director Product: Transtec Classic CFL Transtec HPF CFL Transtec GLS Transtec Halogen GLS Transtec Ballasr Transtec Tube Light http://www.bll.com.bd/ Bangladesh Services Limited (BSL Founded: 1973 About company: Bangladesh Services Limited (BSL) is a Public Limited Company which came into operation in the year 1973. The Government of the People's Republic of Bangladesh owns 99.68% of its capital. The Board of Directors of the company consists of eleven members who are nominated by the Government. The Secretary of the Ministry of Civil Aviation & Tourism is the Chairman of the Board. The Company has been engaged in the hospitality business since its inception and has pioneered international standard five star hotel business in Bangladesh more than 30 years back. (Product) Hotel service Mr. Sayed Rana Moostofee, , Chairman, Editor & Publisher, Arthokotha-The National Business Magazine of Bangladesh 27 Bijoynagar (2nd floor), West Block, Dhaka Air Cdre. Mahmud Hussain, ndc, psc,, Chairman, Civil Aviation...
Words: 851 - Pages: 4
... Wheat and Sugarcane are dominant yield having budgetary importance. The manure is an important aid, which hikes the production in agriculture. Pakistan is an agricultural country but the use of fertilizers is three times lower than that of the advanced countries of the world. We are not still self-dependent in meeting the need of our basic food grain, soil deterioration, nutrient mining. The meager use of fertilizer adds more burden to the existing problems. The Manure sector in Pakistan presently is encompassed by 10 companies, 4 of which are in the public sector (Hazara Phosphate Fertilizer (Pvt) Limited, Lyallpur Chemical & Fertilizer Limited, Pak Arab Fertilizer Limited, and Pak American Fertilizers Limited) while 6 are in the private sector (Engro Chemicals Pakistan Limited, Dawood Hercules Chemicals Limited, Fauji Fertilizer Company Limited and Fauji Fertilizer Bin Qasim Company Limited, Pak China Fertilizer and Pak Saudi Fertilizer Company Limited — now owned by FFC). Fertilizer demand in the country is met from both domestic production and imports. The annual production capacities are as follows: urea 4.3 million tons, DAP (Di Ammonium Phosphate) 450 thousand tons, CAN (Calcium Ammonium Nitrate) 450 thousand tons, NP (Nitrogen Phosphate) compounds 305 thousand tons, SSP (Single Super Phosphate) 180 thousand tons and for NPK (Potash of Nitro phosphate) compounds 100 thousand tons (total 5.78 million tons). The demand and...
Words: 927 - Pages: 4
...these rights and support the franchisee. Franchising is not a business or an industry, but a method used by businesses for the advertising and distribution of their products or services. Both franchisor and franchisee have a strong fixed interest in the success of the brand and keeping their customers happy. What is sole trader? When setting out in business, you will be setting up the business on your own, using your own personal capital to get started. If this is the case you will be known as a Sole Trader, the sole trader is the simplest business to develop. What is public and private limited company? Types of limited company Most small businesses that choose for limited company status become private limited companies rather than public limited companies (PLCs). The main differences between them are that: * PLCs can raise money by selling shares on the stock market - private limited companies cannot * PLCs must have share capital of at...
Words: 1423 - Pages: 6
...profit organisations, private limited company and international/global. Organisations operating in the public sector i.e. for benefit of everyone and not making a profit. Organisations operating in private sector are trying to make a profit such as Tesco, M&S, ALDI etc. even if they are called a public limited company. Charity does not make a profit. Their ownership is by a ‘board of trustees’. I have chosen Marks and Spencer’s for an international/ global organisation. This organisation is an international organisation as their products are sold through our international stores across Europe, the Middle East and Asia. Marks and Spencer’s operate in a private sector and the work they do and the products they sell is to make a profit for themselves. The industrial sector for Marks and Spencer’s is tertiary as this group is involved in the delivery and sale of goods. They take the products from the factories after the products are manufactured and sell them at a price that they will get profit off of. The purpose of this organisation is the supply of products. This is selling products at a certain price to gain profit. The ownership of Marks and Spencer’s is public limited company as it is a large well-known business. It is a chain of retailers with branches in most city centres. Shares trade of the stock exchange. For a Private limited company I have chosen a local restaurant. This organisation is a Private limited company as it is a small business and...
Words: 530 - Pages: 3
...Welcome to UGSFL The Company was incorporated on 30th June, 1959 as a private limited company with objectives set out in the Memorandum of Association which, inter alia, provided for establishment and operation of a glass sheet Factory, with a view to associate a larger section of the public with a growing industry. The company was converted into a public limited company on 27th October, 1962. Since its establishment the Company is carrying on business satisfactorily. After Independence of Bangladesh the Government of Bangladesh placed the Company under the control and management of Bangladesh Chemical Industries Corporation under the relevant provision of Bangladesh Industrial Enterprises (Nationalization) order, 1972 (P.O.No.27 of 1972). In pursuance of the policy of the Government of The People Republic of Bangladesh 49% of the shares of the Company was offered for public subscription during 1987 after re-valuation of the assets as well as finalization of the net worth of the company. The Financial restructure was made by the Government of the people Republic of Bangladesh under P.O.No.27 of 1972 as amended by the Bangladesh Enterprise (Nationalization) (Amendment) ordinance, 1987 (ordinance No.VII of 1987). The Company owns and operates its Factory at Kalurghat Industrial Area, Chittagong on a plot of land measuring 9.8 acres having capacity of producing 201.00 Lac square feet (sft) of glass sheet, varying in thickness from 2mm to 6mm. The company enjoys all the infrastructural...
Words: 283 - Pages: 2
...• ICI establishes its first manufacturing site for the production of Soda Ash at Khewra • 1953The Khewra Soda Ash Company is incorporated as a public limited company • 1965ICI Pakistan acquires Fuller Paints Limited • 1966The name of Khewra Soda Ash Company changes to ICI Pakistan Manufacturers Limited • 1968ICI Pakistan Manufacturers Limited commissions its Speciality Chemicals Plant in Karachi • 1970ICI Pakistan Manufacturers Limited sets up a Pharmaceutical Factory in Naryanganj East Pakistan. After 1971, the factory became part of ICI Bangladesh Manufacturers Limited • 1973Fuller Paints changes its name to Paintex LimitedICI Pakistan Manufacturers Limited sets up a Polyester Plant at Sheikhupura with a capacity of 12,000 tons • 1985Imperial Chemical Industries Pakistan (Private) Limited and Paintex Limited merge into ICI Pakistan Manufacturers Limited • 1987The company changes its name to ICI Pakistan Limited • 1991ICI Pakistan PowerGen Limited is incorporated as a public limited company • 1994ICI Pakistan increases capacity of Soda Ash Plant by 50,000 tons • 1996ICI Pakistan increases Polyester Fiber capacity to 60,000 tons and Polymerization capacity to 91,000 tons • 1998ICI commissions its PTA Plant at Port Qasim Karachi • 2000PTA Business demerges to form a separate entity, Pakistan PTA Limited • 2001Soda Ash Site completes Automation Cogeneration & Debottlenecking Project • 2002ICI Pakistan increases capacity of Polyester Plant by 44,000 tons The Pharmaceutical...
Words: 1449 - Pages: 6
...Mr Cohen who is the founder of Tesco made a profit of £1 from a sale of £4 on his first day. And today Tesco is the UKs biggest supermarket company by employing about 89000 people internationally and still expanding. Tesco is an international company they got their branches in over 14 countries which includes china, japan, Malaysia, Thailand, Mexico and many more. They got over 2500 stores internationally all around the world. Tesco is a public limited company or PLC that’s national (spread all over the parts of UK) and is also in every local borough in London. Tesco’s belong to the tertiary sector because it does not make products as such but it mainly provides a valuable service that consumers and other business are prepared to pay for and/ or use. Tesco sells different types of products and most of them are fair trade. Some other companies or people who have their own business buy shares or a section inside the actually shop floor and sell their own products which makes their own profit. For e.g. if you visit a Tesco shop floor there is specific section for cultural products/foods that people usually have to travel to different places to find. Tesco have made it easier as they have sold shares to business that provide cultural/food products for customers and it will make it easier for them to find their own goods in public limited...
Words: 259 - Pages: 2
...different businesses: local; national; international; global; public; private; not-for-profit/voluntary; sectors of business activity (primary, | |secondary and tertiary) | |Business purposes: supply of products or services; difference between profit and not-for profit organisations | | | |Ownership: public, private and voluntary sectors; types of ownership (sole trader, partnerships, private and public limited companies, government | |departments, government agencies, worker cooperatives, charitable trusts); main implications of different types of ownership on businesses (extent of | |liability, limitations to operation for public and charitable organisations) | Note: Complete the writing frame describing your knowledge of each aspect, you must also provide examples to demonstrate your understanding. Part 1: Range of Different Businesses |P1 | |Local - A company which provides goods or services to a local population....
Words: 1603 - Pages: 7
...Business Planning Business Plan Introduction My idea for the business that I will be planning is a ‘dog grooming’ business, offering a range of treatments that can be purchased and used in order to care for dogs, ensuring that they are as healthy and clean as possible. This isn’t a very competitive market to enter as there aren’t many dog grooming companies that operate within the UK that can dominate the market nationwide; there will be larger ‘regional’ dog groomers that could possible dominate a specific region/county of the UK. I believe that I will benefit from creating this business and so will the community that is within the surrounding/local area. A lot of people own a dog(s) as pets, with stats from 2013 showing that there are roughly 8.5 million dogs kept as pets within the UK (25% of households) (app 3). A huge amount of people love their dogs and love to care for them, ensuring that they are treated the best way possible, so taking them to a dog grooming service is a great way of caring for them. * Aims & Objectives An aim is a specific goal or purpose, whilst an objective is a specific result that a person or system aims to achieve within a time frame and with available resources. In general, objectives are more specific and easier to measure than goals. Objectives are basic tools that underlie all planning and strategic activities. They serve as the basis for creating policy and evaluating performance. Some examples of business objectives...
Words: 5351 - Pages: 22
...owner, their personality and the business can either succeed or fail on you. Sole traders are the most common types of ownership in businesses because the sole trader can make all the decisions himself without depending on others. Sole traders also have unlimited liability, the problem with this is that the owner is personally liable for the debts the business gets and this is risky for businesses who need a lot of money to invest. A Public limited company is where the others can buy shares into the business and - cost, paperwork A limited company is a company in which the liability of members or subscribers of the company is limited to what they have invested or guaranteed to the company. Limited companies may be limited by shares or by guarantee. And the former of these, a limited company limited by shares, may be further divided into public companies and private companies. Who may become a member of a private limited company is restricted by law and by the company's rules. In contrast anyone may buy shares in a public limited company. Things which may affect my business Sex discrimination act This means that you cannot discriminate against anyone because of their gender as this is against the law. Men and women working in the same organization need to be treated fairly and equal. For example if an organization makes the women work harder than the men or, gives the men a higher pay than the women when doing the same job...
Words: 1198 - Pages: 5
...myself as a very lucky individual as I was provided with an opportunity to be a part of it. I am also grateful for having a chance to meet so many wonderful people and professionals who led me though this internship period. Bearing in mind previous I am using this opportunity to express my deepest gratitude and special thanks to the MD of [Company name] who in spite of being extraordinarily busy with her/his duties, took time out to hear, guide and keep me on the correct path and allowing me to carry out my project at their esteemed organization and extending during the training. I express my deepest thanks to [Name Surname], [Position in the Company] for taking part in useful decision & giving necessary advices and guidance and arranged all facilities to make life easier. I choose this moment to acknowledge his/her contribution gratefully. It is my radiant sentiment to place on record my best regards, deepest sense of gratitude to Mr. /Ms. [Name Surname], [Position in the Company], Mr./Ms. [Name Surname], [Position in the Company], Mr./Ms. [Name Surname], [Position in the Company] and Mr./Ms. [Name Surname], [Position in the Company] for their careful and precious guidance which were extremely valuable for my study both theoretically and practically. I perceive as this opportunity as a big milestone in my career development. I will strive to use gained skills and knowledge in the best possible way, and I will continue to work on their improvement, in order to attain desired...
Words: 4338 - Pages: 18
...STELA PICICUROV Assessment activity 1.1 In this assessment, I have chosen to write about Oxfam which is a world known registered charity and Marks and Spencer (M&S) which is a major British multinational retailer. P1. Describe the type of business, purpose and ownership of two contrasting organisations. The name Oxfam comes from the Oxford Committee for Famine Relief, founded in Britain in 1942 due to relieve famine in Greece caused by NazilGermany military occupation and Allied naval blockades, and registered in accordance with UK law in 1943. Oxfam International was formed in 1995 by a group of independent non-governmental organizations. Their aim was to work together for greater impact on the international stage to reduce poverty and injustice. Oxfam International is registered as a non-profit foundation at The Hague, Netherlands. So Oxfam does not have ownership, it is run by Board of Directors and if the business does close down it will give it charity stuff to another charity. This business is not set up to make profit for it personally need it is set up to make profit for people in need. Oxfam gets its money from many different sources: * like the shops that people can go to * people donate their old and unwanted clothes and items and Oxfam sells it to us, the consumers * they also get private donations given to them by people who want to help Oxfam is an international confederation of 17 organisations working in approximately 94 countries...
Words: 1595 - Pages: 7
...profits each year after paying the taxes. An advantage of being a sole trader is that you are fully in charge which means that they don’t have consult between anyone else. Another advantage is that the wage bill will usually be low, because there a few or no employees. A disadvantage of being a sole trader is that Sole traders often work long hours and find it difficult to take holidays, or time off if they are ill. Also another disadvantage is that developing the business is also limited by the amount of capital personally available. Partnership – Partnership is usually owned and run by two or more people. Both owners are equally and personally liable for the debts from the business. Most partnership is small such as local accountants, solicitors, doctors and vet. An example of a partnership is Fat Joes. Ltd – Ltd also known as Private Limited Company is a company that cannot sell shares to the general public. Each owner has a share of the business and therefore is known ‘shareholder’. If the company is successful, then the shareholders receive a financial reward. An example of an Ltd business is Co-operatives – Co- operatives a farm, business, or other organization which is owned and run jointly by its members, who share the profits or benefits. Charity – Charity is an organisation set up to provide help and raise money for those in need. An example of a charity is British Red Cross and Barnordes. Voluntary Organisation – Voluntary Organisations is a service and...
Words: 467 - Pages: 2
