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Introduction of my two contrasting businesses

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UNIT 2: HOW BUSINESSES DEVELOP (INTERMEDIATE) BUSINESS OWNERSHIP OF MY SOLE TRADER WELL HALL FLORIST (GROUP 1) INTRODUCTION OF MY TWO CONTRASTING BUSINESSES: I have chosen from group 1 sole trader which is well hall florist. For my other business which I have to select from group 2 is company which is Richard sounds. I will look at these businesses in more detail the two businesses are operated by. I have chosen these businesses because of personal experience as a customer to these businesses and I think these businesses will be appropriate for the investigation of the following unit (unit 2). Well Hall Florist is owned by Mrs King and the business is a sole trader. So that means Mrs King is responsible for everything that goes on in the business. So she is responsible for hiring the premises or buying the premises too employing employee for the business. So she has a heavy work load every day Mrs King's is everything from a manager, owner, employer and other job title to do with the business. So when I asked her is it easy she told me that responsible are a lot to ask for one individual, but she also comment that it is the only why to make a healthy profit. She meant by the "only way" is that small sole trader has to do a lot of work to get their business up and running to expand their business operations. ...read more.


These activity are small to keep running it take a large invest to start up the business and a expenses are small but time consuming as Mrs. King does every thing from management to human resources, to see a healthy return. The Florist is a sole Trader that suits the type of business and functions well under the current ownership. The ownership (sole trader) suit the Florist business on the fact * Quick decision * Small scale of activity * Good profit return for a sole trader * Enough capital to cover the activity Overall the ownership suit Well Hall Florist as the business activity are on a small scale with the ownership as a sole trader the business can make an healthy profit. Worth while running the business, Mrs. King is happy with the ownership and has no plans for the future expansion. The sole trader ownership has a key advantage that it doesn't share profits, so if the profits are healthy within a couple of year the business can expand operation with an investment of profit back into the business (up to the sole trader). BUSINESS OWNERSHIP OF MY PLC COMPANY RICHER SOUNDS (GROUP 2) The company of Richer Sounds is owned by one person Julian Richer chairman/owner of the company, the type of ownership is PLC. This is appropriate for the business of Richer Sounds because the company is financial sound. The business is making a healthy enough profit for the business to expand, which is one of its objectives. ...read more.


The small business Well Hall Florist is a sole trader and Richer Sounds is the bigger company that is plc. Well Hall Florist is a sole trader ownership because the owner Mrs Kings didn't want to have any partner in the business because of previous problems. The previous problem like all the responsibilities were left on herself so she decided to start her own business just because of the experience gain by the previous partnership and secure financial status. But Richer Sounds is a big company but the owner Julian Richer decided that the business will not put their shares for sale on the stock exchange market so they decided early on in the business that they would become a plc so their shares can't be brought so he owns 100% of the company. Overall the businesses are differently owned because of the owner decisions and past experiences. The comparison between the liabilities for both businesses is that the business are differently own and that means different liability for both businesses. The first business is Richer Sounds their liability are limited liability's because they owned a plc. That consists of the company has to file full accounts also the company have their accounts audited. But the benefits are that they have limited liabilities and that their shares can't be on the stock exchange. The sole trader Well Hall Florist has the unlimited liability that consists of all responsible for all debts for the business, which the business has up the owner house for security. Overall the business are different in liabilities because of the ownership of the business that deicide the liability for the business. ...read more.

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