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A description of the type of business - Sole trader:

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  • Essay length: 3850 words
  • Submitted: 20/08/2003
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AS and A Level Structures, Objectives & External Influences

The first 200 words of this essay...

Unit 2

My group 1 company will be Waitrose. My reason for selecting a prestigious company such as this is because I work for them so then my inside knowledge will be a useful addition to my portfolio.

My group 2 company will be the Tussauds Group. They seem to be a big company and are also well known. So the information would not be hard to find.

Pass points

Task 1/ P1:

A description of the type of business:

Sole trader:

This is the most commonly found type of business in the United Kingdom. A sole trader is a business with only one owner, and the responsibility of the business rests on that person. The business can trade under the owner's name (i.e. Joes Chippy) or under a business name (i.e. Feltham chip shop). Many sole traders provide a service of some sort. Sometimes the most amounts of employees would be 3. The owner provides the capital. The owner takes all the risks of the business, receives all the profit and carries all the losses. This has unlimited liability because it is only a small business therefore all his personal

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