There are many types of businesses; a sole trader is an individual who has set up a business on his own and works as a self-employer. He has the right to make all business decisions and owns all assets of the company (Mavrikakis: Watson, 2011/2012:4). ‘A sole trader has independent control of the business and any profit made is his/hers.’ (Adams, 2008:411). He has all liability for any debts the company may face and is also responsible for paying income tax on all income the business takes. Setting
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businesses that I have chosen to research are Tesco’s and RSPCA. A business can be grouped into 4 different types of sectors, they are; public sector, private sector, voluntary and not-for-profit businesses. Businesses make profit as they are in charge of their own internal and external costs. This business could either be as small as a corner shop, or as large as Tesco. Public sector businesses are owned and controlled by the government. These businesses don’t have to make profit, but this is always monitored
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Facebook Facebook started off as a Private Limited Company (LTD). This means that the public are not able to buy shares into a company. In early 2012 Facebook decided to turn itself in to a Public Limited Company (PLC), a PLC is when the public is able to buy shares into a business. Facebook is a social media website and it was launched in February 2004. It was founded by college students from Harvard University; the founder was Mark Zuckerberg and some of his roommates. A benefit of being LTD
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focus on e-bikes. Other companies such as Ultra Motor Company Limited have chosen to focus solely on e-bikes. This paper will discuss the advantages of private corporations and public corporations related to emerging products such as e-bikes. This paper will also address potential disadvantages of operating as a sole proprietorship for a growing business such as e-bike manufacturing and distribution. The advantages and disadvantages of the different forms of business ownership need to be explored
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sole proprietorship, partnership, and a corporation. Each offers its own advantages and disadvantages as seen in the table below. The first basic business structure is the sole proprietorship. "A sole proprietorship is a business owned by one person." (Parrino, Kidwell, & Bates, 2012, p. 6) This type of business structure is the largest type in the United States. This type of business structure offers several advantages including simplicity in startup, the proprietor keeps all the profits and
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are the advantages and disadvantages? The three forms of business organizations are proprietorship, partnership, and corporations. The first two forms proprietorship and partnership are very similar based on advantages and disadvantages. Advantages are that it is easily and inexpensively formed, there are very few government regulations and the income is not subject to corporate taxation but taxes on the proprietors or partners incomes. For a corporation there are three main advantages. First
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in Europe and Asia. Sources of long-term financing include shares that are issued to the public and these holders are considered the owners of the business. There are two types of shares – equity and preference. The advantages of equity capital is no fixed maturity, no obligation to redeem, no compulsion to pay dividends, provides leverage capacity, and dividends tax exempt for investors. The disadvantages of equity capital are dilution of control of existing owners, high cost – rate of return expected
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introduction to each business to explain what it does. * Explain the purpose of each business. * Describe the sector it operates in. * Explain in detail the type of ownership that the two businesses have- including the advantages and disadvantages of each type of ownership. Task 1 Write a BRIEF introduction to each business to explain what it does. The British heart foundation was founded 50 years ago in 1961 by a group of medical experts who wanted to do some research on things
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Course: BTECH – HND – Business (Management) Year: 2015/2016 Name: Susantha Suwandaratne Subject: Unit 01: Unit 01: Business Environment Complete Date: 4th Of January 2016 Words between 2500 and 4000 _______________________________________________________________ Task 1 - Understand the organisational purpose of business ___________________________________________________________________________ 1.1 Identify the purpose of four different
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Limited Liability Corporation and Limited Liability Partnership Onorio Dimas University of Phoenix FIN/419 James Hagist 04/01/2013 Abstract America has been known for many years as the land of opportunity both for Americans as well as foreigners in regards to starting a business. But, as easy as it has become to start a business, it is also important to understand the different options there is when structuring the business. This
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