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

A02: investgating business ownership - Funky Cats toddler gym

Extracts from this document...


A02 investigating business ownership: Describe, using examples, different types of business ownership, and show why business ownership may change over time. Types of business ownerships? 1. Sole trader 2. Partnership 3. Private limited company 4. Public limited company 5. Franchise 6. Co-operative Sole Trader? A Sole trader is a business owner that operates the business by their self?s although they may employ people. Sole traders are usually set up by people who have been made redundant or have lost their jobs and can?t find any more work. Sole traders are sometime referred to as sole proprietors. Many time sole traders may find it hard to start up their business and their business could. A sole trader may also find it hard to borrow money from banks as banks are wary of sole proprietors as their income may not be able to cover the costs of the loan. Sole traders are covered by unlimited liability so this can be one of the risky sides of becoming a sole proprietor as if something went wrong the proprietor may be forced to sell their personal items to pay off debt. ...read more.


The name was bought of the gymnastics company she gets her lesson plans from. She set up her business in 2007 and it has apparently thrived ever since. It took a year for it to be steady and to start making a profit. She believes this is because of the gap she saw in the market for a toddler gym, she took the chance with it and funky cat is the result. Anita says that she loves the amount of control she has over her business. Although she said at first it was slightly scary because of all the responsibility’s she now had. One of the responsibility’s she had was working out much capital to put into the business. This was in fact lower than I thought it would be at £1300, this was for the training with the British gymnastics and for her first pieces of equipment. She paid for this like most people who set up their own business with some redundancy money. ...read more.


However Anita would have to choose her partner carefully as if they were not satisfactory her business would suffer for it. Anita feels that if she had a partner she would be able to have more classes than she does now and would be able to have Funky cat?s parties. This would be made possible by the extra money bought into the business by they partner, it could be used to by more equipment for the extra classes. Maybe another appealing thing about a partnership is the shared responsibility along with this the profit earned in the business would be shared between the two owners. This is a bonus as the stress of running a business is shared across the both of them. Something?s that may put Anita off is the time and money it takes to put into creating a partnership but this money would quickly be regained after a while. If Anita did decide to change ownership into a partner ship her liability wouldn?t change./ Liam Convery ...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. Type of Business Ownership, sectors, types of bysiness and size of business

    the unfortunate event the firm were to go bankrupt then the owners are only liable for debts up to the amount they invested in the business. Shares can also be sold to raise money. For a Plc, shares are sold on the stock exchange and for an Ltd, to friends and family.

  2. Business Studies

    create business barriers Managing global business * Financial Credit risks - Methods of payment > Most secure - receive payment before goods are sent > To ensure payment an importer is required to have a letter of credit [ET17]from a confirmed secure bank > Bill of exchange and international bank

  1. Exmaining different types of business ownership with examples of each.

    More free time for owners Decisions take longer You share debts Conflict of interest Various ideas/personalities Partner might get greedy Company You might not want to compromise You divide working hours Unlimited Liability You can get out of debt quicker Disagreements Business Purposes The purpose of Ben & Jerry's partnership

  2. In this section I will explain every one the different types of business ownership. ...

    suppliers, which may lead to having to buy high-priced products, but with many powerful shareholders they can overwhelm suppliers and force them into selling products for a much cheaper price, this if why Tesco is a PLC. The credit terms with suppliers would not be as good because the more

  1. English for business

    job advertisement b) C.V c) The interview Both parties the interviewer and the interviewee have to communicate effectively: open questions, right answers, positive opinions. A job appraisal interview is one of the major tasks of the leader of a team of people.

  2. Investigating Business - Ownership

    Errol has an Unlimited Liability on him, which means that if Errol was unable to pay back the debts then according to the law he would have to sell his personal property to pay back the loans borrowed. This would only happen if Errol's business flops.

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