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Business ownership types Free essay! Download now

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Business ownership types

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Downloads to date: N/A | Words: 473 | Submitted: 23-Jan-2012
Spelling accuracy: 97.5% | Number of pages: 1 | Filetype: Word .doc


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Business ownership types

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Business ownerships By Mustafa Rahman
Sole Trader is owned and controlled by one person although they may employ workers, individuals who provide a specialist service like takeaway, newsagents or even hairdressers are often sole +traders which mean any income or profit that you earn is yours alone and you pay income tax on that income, this means that any debts are yours debt.
Partnerships are businesses owned by two or more people Dental surgeries are often partnerships, Doctors, Dentist and solicitors are typical examples of professionals who may go into partnerships together and can benefit from shared expertise. One advantage of partnership is that there is someone to consult on business decisions.
Limited company (Ltd) is often a small business such as an independent retailer in a market town. Shares do not trade on the stock exchange. These types of company are incorporated, which means they have their own legal identity and can sue or own assets in their own right. The ownership of a limited company is divided up into equal parts called shares. Whoever owns one or more of these is called a shareholder.
Public limited company (PLC) is usually a large, well-known business. This could be a manufacturer or a chain of retailers with branches in most city centres. Shares trade on the stock exchange.
The advantages of having a P.L.C the shareholders have limited liability
• A company can raise additional capital by issuing more shares or debentures
• Shareholders can sell or I can give it away to anyone I like
The Disadvantages having a P.L.C company is –
• There is a loss of control of the business
• Decisions take longer and there may be disagreement
• Profits are shared amongst a large number of people far
Franchisee who buys the right from a franchisor to copy a business format and a franchisor, who sells the right to use a business idea in a particular location Many well-known high street opticians and burger bars are franchises such as Mc Donald’s, Burger King so on, Opening a franchise is usually less risky than setting up as an independent retailer.
Charity can be organized in a number of different ways a trust or a company limited by guarantee. Each of these has a different governance structure – for example, a charity that is formed as a registered company will be governed by a board of directors, a charity that is set up as a trust will be governed by a board of trustees.

Co-operatives are organizations for mutual benefit, where members equally control and benefit from the operation. It is their objective to first and foremost serve members’ interests, rather than that of capital invested. This is one of the main ...

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