Business studies unit one test
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- Created on: 06-11-14 16:28
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- Business studies
- Ownerships
- Soul trader
- A soul trader ownership is when you are in total controll of your business- but you can still employ other people
- Advantages
- -you get all the profits (unless you hire someone)
- -You get full controll other desicions
- There are no fee's and no paperwork
- You are your own boss
- Work your own hours
- Disadvantages
- You will be the one that's sued - meaning you could loose your belongings e.g house, car etc.
- Unlimited liabilty
- You business could go either way meaning that there is no security
- You have to work longer hours to keep the business going.
- You will be the one that's sued - meaning you could loose your belongings e.g house, car etc.
- Partnership
- Maximum number - 20
- Minimum - 2
- Advantages
- You can share the dept and expenses
- More skills involved with the business
- Less work hours
- Don't have to do everything yourself
- Holidays
- Untitled
- Disadvantages
- You have to share all the profits.
- You cant make all the dessicions yourself.
- Unlimited liabilty
- You could disagree
- You must statehow the profits are gonna be shared with the government, meaning paper work
- Private limited Company
- Is where your business includes shares, with this being a Private limited company you can only sell your shares to family and friends (you can't advertise)
- If the company does well the share value goes up, meaning the people selling them get more profit and the people buying them get more income
- However ifthe company does bad then the selling price drops and the income drops, affecting both the share sellers and the share holders
- Disadvantages
- Growth could be limited as the maximum amount of shareholders in only 50
- The shares can not be sold or given to anyone else without the other share holders permission
- Advantages
- Limited Liability
- Business not affected by the status of it's owner
- Minimum amount of shareholders when starting is only 2
- Is where your business includes shares, with this being a Private limited company you can only sell your shares to family and friends (you can't advertise)
- Soul trader
- Franchisers
- A franchise is a global company that are looking for people to buy into the business and open anothershop somewhere of that company helping the globalistation of it expand
- Franchise - the business
- Franchiser - the business that offers franchisers
- Advantages
- More of a public image
- Fund expansion for little risk
- Disadvantages
- Less overall profit
- may not have enough controll to prevent franchises damaging the reputation of the franchise
- Advantages
- Franchisee -the person who buys into the business and takes on the business
- Advantage
- Recieve support and help from the franchisor
- no competition
- not as much responsibilty
- Disadvantages
- Less controll
- Advantage
- Ownerships
- -you get all the profits (unless you hire someone)
- Franchisers
- A franchise is a global company that are looking for people to buy into the business and open anothershop somewhere of that company helping the globalistation of it expand
- Franchise - the business
- Franchiser - the business that offers franchisers
- Advantages
- More of a public image
- Fund expansion for little risk
- Disadvantages
- Less overall profit
- may not have enough controll to prevent franchises damaging the reputation of the franchise
- Advantages
- Franchisee -the person who buys into the business and takes on the business
- Advantage
- Recieve support and help from the franchisor
- no competition
- not as much responsibilty
- Disadvantages
- Less controll
- Advantage
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