A2 Applied Business Unit 8 Business Planning Task 2 Legal Status

 Recap the main types of legal status of a business.  Explain advantages and disadvantages of the different types of legal status.  Develop analytical skills.  Apply legal status to own business ideas. Lesson Objectives

 You have already studied this topic in Unit 1 in Year 12, so this is a revision lesson, of the main types of status that you can choose for your business.  Look at the cards you have been given and sort them into the correct groups.  Ownership_sorting_exercise[1].pdf Ownership_sorting_exercise[1].pdf  Review with class. Legal Status of A Business

Write on the board  Student 1 – State an advantage of being a sole trader  Student 2 – Explain the advantage  Student 3 – Add an effect of the advantage  Student 4 – add another effect  Etc NB Use connectives to link the points together Developing Analysis – Chaining 1

 In your business plan write the heading Legal Status.  State the legal status you have chosen for your business. Explain the reasons for your choice and use the assessment objectives in the previous exercise.  Use Point ( Advantage of that legal status e.g limited liability)  Explain ( e.g. what is limited liability)  Effect ( e.g. why is limited liability important for your business)  Make sure you apply (link ) it to your business  You do not need to discuss the types of legal status you have not chosen, i.e. if you choose sole trader you do not have to do the advantages of partnerships and private limited company, but could use them for a comparison that will help evaluate. The Task

Look at the exemplar piece of work.  What is good about the work?  How could the work be improved? Exemplar Work

 Blockbusters Business Organisation  busters/quiz-busters-game.aspx?game_id=79 busters/quiz-busters-game.aspx?game_id=79 Plenary