Business studies - types of businesses

Almost everything you need to know about the types of businesses, unlimited liability, public sectors private sectors etc etc

Even some stuff about location for businesses

It's a bit wordy, so sorry about that, I tried to use as much colour where appropriate, so I hope it is okay.

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Katie MostynAll Hallows Catholic College

Unlimited Liability ­ means the owner can lose all possessions of that
business and all money will be to pay off debts.












Disadvantages
There is no one else to share losses with.
It can be difficult to raise capital ­ therefore making it difficult for…

Page 2

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Katie MostynAll Hallows Catholic College

Not allowed to advertise their shares
Usually smaller (although some are large e.g. Littlewoods, Halfords)

Advantages
Shares can be issued as a means of raising capital
The business has a legal identity of its own. (I.e. it can sue and be sued).
Usually 2 directors…

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Katie MostynAll Hallows Catholic College


Disadvantages
there is no guarantee of financial success for the franchisee made by the franchisor
the main disadvantage of franchising is a loss of control
Starting and operating a franchise business carries expenses.

Franchisee
The person why buys the rights to the franchise (Logos, company…

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Katie MostynAll Hallows Catholic College

Financial help availability
History and Tradition, area known for?
Sales techniques Employed by the business
Customer popularity
Worker availability
Cheaper wages (working in cheaper areas-abroad)
Size of premises [linked to cost]

Green field Site - never been built on.
Green belt site ­ Can't build…

Page 5

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Katie MostynAll Hallows Catholic College

The person specification is an extension of the job description. It is a profile of the type of person
needed to do a job and is produced along with a job description following a job analysis

A person specification includes:

Attainments (experience and qualifications)
Specialised…

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