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.

HideShow resource information
Preview of Business studies - types of businesses

First 227 words of the document:

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.
There is no one else to share losses with.
It can be difficult to raise capital ­ therefore making it difficult for them to grow in size.
There is nobody to run the business if the owner is ill.
Many new and small businesses find it a suitable form of business organisation.
It is very easy and cheap to set up ­ very few forms have to be completed.
Little start up capital is needed for most.
It is easy to set up.
The amount of capital needed to start up the partnership is often small.
Forming a partnership can mean it is easier to raise extra capital when needed as all the partners can contribute.
The partners have unlimited liability for the debts of the business, unless they are limited partners.
If a partner dies or becomes bankrupt the partnership must be dissolved.
Profit has to be shared between the partners.
Private company (Ltd)
Must have `Ltd' after its name
Restrictions can be placed on sale of shares
Not allowed listings on stock exchange

Other pages in this set

Page 2

Preview of page 2

Here's a taster:

Katie MostynAll Hallows Catholic College
Not allowed to advertise their shares
Usually smaller (although some are large e.g. Littlewoods, Halfords)
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 with no upper limit. It depends on the size of the business.
Ltd's cannot offer shares for sale to the general public
Existing shareholders may be unable to provide more capital to expand.…read more

Page 3

Preview of page 3

Here's a taster:

Katie MostynAll Hallows Catholic College
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.
The person why buys the rights to the franchise (Logos, company name...Etc)
The person the franchisee buys the rights off, to sell its products or services.
Royalty Payments
% payment made for the use of another person's or firm's invention or property ­ (i.e.…read more

Page 4

Preview of page 4

Here's a taster:

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 on it.
Brown field site ­ Has been built on, re-using land
Enterprise Zones ­ where government gives financial help, linked to cities.…read more

Page 5

Preview of page 5

Here's a taster:

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 attitudes
Personality etc.…read more


No comments have yet been made

Similar Business Studies resources:

See all Business Studies resources »See all resources »