1 Limited liability 2 Right to manage 3 Agency 4 Withdrawal from business 5 Business property 6 Borrowing power 7 Formation 8 Governance formalities 9.

Slides:

Advertisements

Similar presentations

Lim Sei cK. A sole proprietorship is a business entity owned by one person who is legally responsible for the debts and taxes of the business.

Advertisements

Public and Private Limited Companies PLC’s and Ltd’s.

Ryan Hohn Entrepreneurship Period 9. Sole Proprietorship Easiest and most popular form of business Receives profits Incurs losses Liable for all debts.

Forms of Business.

Forms of business organizations

Shrine Treasurers Association

Introduction to financial management

Choosing the Best Business Structure. Choosing the Legal Structure of Your Business Sole Proprietorship Partnership Limited Liability Company Corporation.

Choosing the Best Business Structure

Running your own business What you need to know from a tax perspective if you choose to work for yourself. 10/08/2015 Martin Connell FCCA

1 Construction Engineering 221 Business Ownership.

Real Estate Investment Chapter 9 Business Organizations © 2011 Cengage Learning.

Types of Business Ownership

A sole proprietorship is a business owned and operated by one individual Disadvantages:  Sole proprietors have unlimited liability and are legally responsible.

Corporate Law. State owned company All provisions of Act that apply to public companies also apply to State owned company Ends with SOC Minister may make.

Types of organisation.

Farm Business Organization and Transfer

Types of Business Ownership

Understand the two types of ownership Private and Public and the difference between private ownership and public ownership All- identify the two types.

Management Two Business Ownership Created By M.S.Martin Feb 05 Revised for trade Oct. 09 Created By M.S.Martin Feb 05 Revised for trade Oct. 09.

1.Describe the characteristics, advantages & disadvantages of the sole proprietorship. 2.Understand the advantages & disadvantages of the partnership.

Professional English in Use Law chapter 19: Business organisations 謝宗穎.

Limited Company (I). Sole Proprietorship Partnership Company Incorporated under Companies Ordinance = Corporation Limited Liability Unlimited Liability.

McGraw-Hill © 2004 The McGraw-Hill Companies, Inc. All rights reserved. McGraw-Hill/Irwin 1.0 Introduction to Financial Management Chapter 1.

Complex Corporate Structures Event 6 Deakin University CRICOS Provider Code: 00113B.

Understanding Business and Personal Law Sole Proprietorship Section 27.1 Sole Proprietorship and Partnership A sole proprietorship is a form of business.

Microeconomics Business Organizations. Microeconomics: Overview Study of individual businesses and households SMALL scale decisions –A firm’s business.

L2 Business Unit 1 – Business Purposes

Business Organizations

Corporate Finance Mr. Long Sovang, MFI. 1.1 Introduction to Corporate Finance.

Business Organization. Sole Proprietorship The sole proprietorship is the simplest business form under which one can operate a business. The sole proprietorship.

Sole Trader Is a sole trader the largest or smallest type of business? How many owners does it have? A sole trader is the smallest type of business. It.

Types of Business Ownership Sole Proprietorships Partnerships Corporations.

LEGAL FORMS OF BUSINESS. Legal Forms  Self-employed /Sole proprietorship and Partnership  Limited liability  Mutuals  Non-profit organizations.

Accounting Methods  Cash basis Income recorded when received  Constructive receipt: made available without restriction Expenses recorded when paid 

Ch. 22 Section 1 Types of Businesses. Proprietorships # of businesses in America 73% -- sole proprietorships (single owned) 20% -- corporations 7% --

Business Structures How can businesses be legally organized?

1 - 0 What is finance Fields and jobs in Finance Forms of business organization Responsibility of financial staff in a corporation Goals of the corporation.

Use with Business Accounting and Finance Second Edition by Catherine Gowthorpe ISBN © 2005 Thomson Learning.

Sole Proprietorship-a business that is owned and operated by one person *

Advantages and disadvantages of business ownerships.

The slides are messed up, please ignore the title “corporations” on every slide.

BUSINESS STRUCTURES & RISK MANAGEMENT 6/7/20162 When your clients own and operate a business, whether buying an existing business or starting up a new.

Lim Sei cK. A sole proprietorship is a business entity owned by one person who is legally responsible for the debts and taxes of the business.

Types of business ownership. Advantages to Sole Proprietorship  Keep all profits  Less Expensive  Easier to use.

The Legal Function – Starting a New Business: Getting the Legal Structure Right Enterprise and its Business Environment © Goodfellow Publishers 2016.

Business Organizations Chapter 3 Section 1 Chapter 3 Section 1.

Types of Business Ownership Back to Table of Contents.

Year 10 Accounting & Entrepreneurship.  Define the types of business structure  List advantage and disadvantages of each  Identify when to use which.

The Application of Legal Principles in Business

Presented by: Xtrategy Ltd

Types of Business Ownership

Financial Accounting Lecture 01

Legal Structures Mahbuba Begum.

Unit 4: the firm as a producer

Corporations and Trusts Law Chapter 3 Choosing a Business Structure

English for Lawyers 3 Lecturer: Miljen Matijašević

The Main Idea Entrepreneurs need to understand the advantages and disadvantages of various types of businesses so that they can choose the one that best.

CHAPTER 31: FORMS OF BUSINESS ORGANIZATIONS

NEW WORD to KNOW! Liability – For a business, it includes the responsibility to pay all normal debts and to pay because of a court order or law, for performance.

Forms of Business Organisation

How Should I do Business?

Getting Started.

Success Criteria All: To be able to identify businesses ownership. Some: To be able to identify businesses ownership and their key features.

From Class Econ Notes Mr. Park.

Presentation for INVENT WA by James Irving, Lawyer

Organizing Your Business

Forms of Business Organization

Public Limited Companies

Ownership Refresh.

Presentation transcript:

1 Limited liability 2 Right to manage 3 Agency 4 Withdrawal from business 5 Business property 6 Borrowing power 7 Formation 8 Governance formalities 9 Publicity 10 Tax 11 Perpetual existence 12 Numbers of member

1 Limited liability (1) Shareholder: Y (2) Shareholder of UC: N (3) Partner: N, Limited partner: Y (4) Sole trader: N

2 Right to manage (1) Shareholder: N (2) Shareholder of UC: Y (3) Partner: Y, Limited partner: N (4) Sole trader: Y 3 Agency (1) Shareholder: N (2) Director: Y (3) Partner: Y (4) Sole trader: Y

4 Withdrawal from business (1) Partner: easier, by assignment, or expiration (2) Shareholder of PLC: easy (3) Shareholder of Co Ltd: may be subject to restriction of BOD 5 Business property (1) Company property: company rather than shareholders (2) Partnership property: jointly owned by partners

6 Borrowing power (1) Sole trader: difficult, solid security or guarantor (2) Partnership: difficult, solid security or guarantor (3) Company: easier, Share Debenture: loan with mortgage, floating charge Bond

7 Formation (1) Sole trader: easiest (2) Partnership: easiest (3) Company: by registraion 8 Governance formalities (1) Partnership: N (2) Company esp. PLC: Y, lots of mandatory requirements

9 Publicity (1) Sole trader: completely private (2) Partnership: completely private (3) Company: mandatory disclosure except SMEs Turnover of less than ￡ 2.8 million Assets of less than ￡ 1.4 million Fewer than 50 employees

10 Tax (2)Sole trader: income tax, national insurance, personal allowance (3)Partner: income tax, national insurance, personal allowance (4)Company: corporation tax, capital gains tax, Rate of corporation tax is lower than that of individuals Capital gains tax make things complicate Self-employed people has definite tax advantage to be gained from forming a company

11 Perpetual existence (1) Company: Y (2) Partnership: N 12 Numbers of member (1) Partnership: 20 or less, except solicitors, accountants, stockbrokers (2) Company: 1 or more for LC; 2 or more for PLC