• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

A sole trader is where an individual who is the sole owner of his/her business, he/she can decide in which way the business is conducted. They receive their own wage/salary, what hours they want to work. Advantages

Extracts from this document...

Introduction

??????????????????????????????????????????????????????????????????? ???????????? ?????????????? A sole trader is where an individual who is the sole owner of his/her business, he/she can decide in which way the business is conducted. They receive their own wage/salary, what hours they want to work. Advantages * Cheap& easy to set up * Owners keep all profits * Finical affairs of the business do not have to be displayed, although tax authorities must have access to them. Disadvantages * Unlimited liability * Lack of cover if of sick * Sole owners have to raise all their own capital Summary Being a sole trader you can make changes to your business how you want and when and you have a personal relationship with your customers. ...read more.

Middle

work place Summary This could be good and bad, it would help if you were low on capital and having a partnership could create new ideas in business, Although on the other hand if you and your partner have a dispute it can lead to bad working conditions and cause the business to fail and leave you and your partners bankrupt. It is very important that you choose the right partners for your business to be a success. Public limited company A public limited company must have a least two directors and two share holders, public limited companies must also have a solicitor, accountant. ...read more.

Conclusion

The co-operative is formed to help small business or individuals to become part of an expanding group, they have the power to buy or bargain. There are three main types of co-operatives: 1. Retail co-operatives 2. Marketing co-operatives 3. Worker co-operatives Advantages * Equal control is shared among each worker * There is a lot of loyalty & support within the community * It is self-governing disadvantages * There may be a lack of skills required to run& control the business * The business may suffer from little/no capital * There is a high failure in the rate of co-operatives Summary They suffer from no profit instead they stay loyal to their customers in the communities. ?? ?? ?? ?? ...read more.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our GCSE Business, Companies and Organisation, Activity section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related GCSE Business, Companies and Organisation, Activity essays

  1. Business Studies

    countries develop a common trade policy against businesses in non-member countries > Reductions in restrictions are given to member countries - trading bloc - War and civil unrest > In a country experiencing war/civil unrest markets will be disrupted - sales and profits fall because of lack of demand and

  2. Compare and Contrast a set of Final Accounts for a Sole Trader and a ...

    but it is essential for larger clubs to produce final accounts in the form of: > Income and Expenditure > Balance Sheet Income and Expenditure Account: The Income and Expenditure Account of a non-profit organisation lists the income and deducts the expenditure using a layout similar to a profit and loss account of a sole trader.

  1. Starting a Small Business

    * They are time consuming as well * You have less control of the group and what is being produced * If a small number of people attend one meeting it means that the next time it will b smaller because there is a less chance of people hearing about

  2. English for business

    * Someone who is considerably older than you? * A foreigner? * A member of the public? * What experience did you have with a public person? * What does the meaning of a message depend on? * How do you respond to change? Principal Comunication Media Written Oral/Aural Internal External Memoranda Notices Bulletins Agendas Minutes Reports House-journals

  1. Business Plan. After putting a lot of thought into what kind of business we ...

    kind on the Algarve; with the right mind set we will be able to make this a successful reality. We believe our customers will love it as the temperature in Portugal can get extremely high therefore a nice milkshake on a warm day will appeal to many people.

  2. Is it a sound business decision to locate a Coffee Republic franchise in Finchley ...

    The second part of the question will also give an indication as to how much business the company is likely to receive by showing how many cups a particular person drinks a day. Place:- 12. In your opinion is this a good location for a coffee shop?

  1. Competitive business

    McDonald is one of the worlds most known and valuable brands and holds a leading share in the globally branded quick service restaurant segment of informal eating out market in virtually every country in which they operate. McDonald serves the world its favourite foods consisting of French Fries, Big Mac,

  2. Choose a vacant local business site. Make recommendations on how it may be developed ...

    order to find out information regarding local shopping trends o Create and distribute questionnaires * Location * Visits to area around chosen site * Age * Gender * Shopping Habits * Opinions on quality of local businesses * What kind of businesses are lacking?

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work