Business Studies work

TYPES OF BUSINESS

 

 

ORGANIsATIONS

 

BY BEATRICE AND PREETI

1. INTRODUCTION


2. SOLE TRADERS

 

3. PARTNERSHIPS

 

4. LIMITED COMPANIES - PRIVATE (LTD)

 

5. LIMITED COMPANIES - PUBLIC (PLC)

 

6. PUBLIC CORPORATIONS

 

7. FRANCHISES

 

8. MULTI-NATIONALS

 

9. JOINT VENTURES

CONTENTS

introduction

  • Definition- A business organisation that

  • is owned and controlled by one person,

  • this is the oldest and most common form

  • of business organisation across the

  • world

 

  • 2 Advantages- There is only one boss -

  • they can make all the decisions

  • themselves, without having to consult someone else.

  • 2 Disadvantages- Banks are often

  • unwilling to lend money to sole traders

  • because they are considered risky

  • enterprises. This means that they can

  • face considerable competition from

  • larger businesses and other small

  • business and may close down within a few

  • years of operation. In the event of

  • business failure, sole traders are liable

  • for all the business debts which means

  • that a sole trader has an unlimited

  • liability.

  • Example(s)- Photographers, Taxi Drivers,

  • etc

sole trader