operations. These businesses or organisations can be split into two main sectors either the public or the private sector. The public sector consists of non-profitable businesses/organisations such as charities. However, the private sector consists of profitable business/organisations in various forms such as sole traders, partnerships, franchises, private limited and public limited. Types of business in the Public sector Charitable Organisation Charitable organizations are a kind of business that
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Report based on case study “ A successful business development”. Contents: 1. Types of business entity 2.1. Explanation of each entity 2.2. Advantages and disadvantages of each type of entity 2.3. Objectives of each entity 2. Stakeholders 3.4. Definition of stakeholder 3.5. List of stakeholders of each entity 3.6. Interest of each stakeholders 3. Organizational structure 4.7. Comparison of two structures presented in the case study
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called unlimited liability. Advantages: 1. The firms are usually small, and easy to set up. 2. Generally, only a small amount of capital needs to be invested, which reduces the initial start-up cost. 3. The wage bill will usually be low, because there a few or no employees. 4. It is easier to keep overall control, because the owner has a hands-on approach to running the business and can make decisions without consulting anyone else. Disadvantages: 1. The sole trader has no
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Organisations Public Limited Company * A public limited company is the largest type of business. These companies end their names with plc, the shares are usually traded on the stock exchange and can be owned by members of the public and institutional investors such as large banks and insurance companies. This type of business can raise a large amount of money by selling shares and use this to expand or develop the enterprise. All shareholders have limited liability. Limited liability is when
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Business name My name is Megan Quigley, and I am a sole trader of a new pizza business. My pizza business will trade under the name of “Mama’s Delight Pizza ”. My business will be located in Northside Shantallow, Derry, Northern Ireland Mission Statement A mission statement is a formal short written statement of the purpose of a company or organisation. The mission statement should guide the actions of the organisation, show its overall goal, and provide a sense of direction. The mission
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research the different forms of business ownerships and the legal requirements that are required. I will be talking about what each type of owner ship in tales and what the advantages and disadvantages of each are. The main types of ownerships are: * Sole trader * Partnership * Private Limited Company * Public Limited Company * Franchise * Working Co-operative I am going to research the different types of ownerships using the internet and text books to gain an understanding
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stationery. As all the business sole trade have advantages and disadvantages. The advantages are that is very simple to set up this kind of business because of the reason we say before and there are not any legal fees in sole trade. Also you need much fewer regulations concerning accounts. The owner is free to take any decision he want alone and he don’t need to ask nobody else like other organization which are more than one owners. At last the biggest advantage is that the owner can enjoy all the profit
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For this task I am going to use the research from class to explain the types of business ownership and the sector which it operates in, the size, the scale, the size of the industry, the liabilities it has and the advantages and disadvantages of the business ownership. Type of Business Ownership and Business Sector | Snac Attack | Cameron Blake Chartered Accountants | Sole Trader- A sole trader is a business which is owned by one person. The owner can employ others but they are their responsibility
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introducing the advantages and disadvantages of each of the business organisation. Introduction Business is an organisation or economic system which is always owned by someone and it can be for- profit as most of the business organisations exist for, or no-profit such as charity or agricultural cooperative. There are many types of business organisations: Sole trader, Partnership, Private Limited Company (Ltd), Public Limited Company (Plc), Co-operatives, Franchises and Public sector. The first
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services you sell to the public affect your own personal income and taxes. This is the easiest way to start and operate a business. When people pay the business, they pay you directly. Advantages A sole proprietor has complete control and decision-making power over the business. Sale or transfer can take place at the discretion of the sole proprietor. Minimal legal costs to forming a sole proprietorship Few formal business requirements No corporate tax payments Another advantage of forming a sole
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