Investigating business

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Presentation transcript:

Investigating business Business ownership: types of organisation

How to organise a business Sole trader Partnership Private limited company Public limited company Co-operative Franchise

About sole traders E.g. window cleaner, plumber Small in size Unlimited liability (risk of bankruptcy) Unincorporated (legal person) Advantages: setting up costs, profits Disadvantages: decisions, responsibility

About partnerships E.g. doctors, dentists, lawyers 2 to maximum 20 partners Unlimited liability (risk of bankruptcy) Unincorporated (legal person) Advantages: investment, responsibility Disadvantages: decisions, profits

About private limited companies E.g. Sainsbury’s Supermarkets Ltd No limit to the no. owners (shareholders) Limited liability (risk of liquidation) Incorporated (legal person) Advantages: raise funds by selling shares Disadvantages: privacy, share trading

About public limited companies E.g. Iceland Foods plc No limit to the no. owners (shareholders) Limited liability (risk of liquidation) Incorporated (legal person) Advantages: raise funds by selling shares Disadvantages: privacy, share trading

About co-operatives E.g. The Co-operative Group Worker vs. consumer (retail) co-ops Limited liability (risk of liquidation) Incorporated (legal person) Advantages: equal profits, ethical working Disadvantages: decisions, funds, staffing

About franchises E.g. McDonalds Type of marketing arrangement Trade as any of the 4 types of business Franchise often a well known name Er: advertising, advice, tested product Ee: pays set up fee plus ongoing royalty

Business ownership End of presentation