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Investigating Different Business

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Investigating Different Business

Sole Trader – Sole Trader is the most common and the simplest form of business organisation. It is usually owned by one person but there may be several employees. The sole trader is for responsible every aspect of the business for example; keeping the premises clean, doing accounts, and paying taxes on the profits. The sole trader can keep all the 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 are run by professional staff and volunteers. The size of the business can range from very big to very small. An example of Voluntary Organisation is Girlguiding UK and Youth Action Network.
PLC – PLC also known as Public Limited Company is the largest type of private business. This could be a manufacturer or a chain of retailers with branches in most city centres. The companies that are public limited companies they end their names with the letters ‘plc.’ An example of a PLC is Tesco and Asda.
Public Sector – A Public Sector is a portion of society controlled by national, state or provincial, and local governments. In most countries around the world, the public sector consists of services like the military, police, public transport, roads, education, and healthcare services. It has the responsibility to provide services which will benefit all including non-payers. An example of a Public sector business is

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