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A02: investgating business ownership - Funky Cats toddler gym

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Introduction

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.

Middle

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.

Conclusion

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.

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