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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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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also sole traders. Sole traders do not have a separate legal existence from their owner. As a result, the owners are personally liable for the firm's debts, and may have to pay them out of their own pocket. This is 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
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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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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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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 up a business is easy for a sole trader and no formal steps
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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 statement also defines the essence of a company what it stands for, what products or services it intends to offer customers. The mission statement also gives the readers a window on the raison deters of the company. Our mission statement for Mama’s Delight Pizza is:
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Types of companies. 2 Process of setting up a company. 4 i. Pre-registration 4 ii. Registration 5 iii. Post registration and ongoing requirements. 6 Choice of companies 7 Advantages and Disadvantages 7 Liability 8 Conclusion 9 Bibliography 11 Synopsis. There are many types of company that Ted can establish, but the ones that Ted should consider are companies limited by shares and unlimited companies, either public or proprietary. Each type of company has its own
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