Aims and Organisation, Business aims and activities.

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Private sector aims:

The UK economy is a mixed economy. This means that it has a public sector, and aprivate sector.

The aim of a business in the private sector is to survive by making a profit. This may be a sole-trader working alone, like a newsagent, or thousands of shareholders in a large Public Limited Company

To win the loyalty of customers and encourage repeat sales, businesses need to be reliable and provide a quality service to their customers.

Primary production, Secondary production, Tertiary production.

Limited companies:

All limited companies are incorporated, which means they can sue or own assets in their own right. Their owners are not personally liable for the firm's debts (limited liability). 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. A public limited company (PLC) can sell its shares on the Stock Market, while a private limited company (Ltd) cannot. Unlike a sole trader or a partnership, owners of a limited company are not involved in running the business, unless they have been elected to the Board of


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