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

Can sole traders survive?

Extracts from this document...

Introduction

INTRODUCTION: 3 Types of ownership: 3 Sole Trader 3 Private Limited Company (PLC) 3 Partnership: 3 Prediction: 3 THE RESULTS: 5 ANALYSIS: 6 CONCLUSION: 7 Introduction: I am conducting a survey to decide whether or not a sole trader can survive in today's high streets. Types of ownership: Sole Trader This is a person who starts up their own business with their own money. This is good as you are in charge of all aspects of the business, but you are also liable for all the debt. A sole trader will not have the money to rent the shop as it is just starting up and will not have the capital for it. As a sole trader is liable to all of the debt it is more cautious to buy an expensive premises, as it may loose the business and have to sell their house to pay for it. Private Limited Company (PLC) This is good as you are not liable for any debt that the company gets but you are not in charge of the business. ...read more.

Middle

I do not think that this will occur, I think that there will be a lot of PLC's and not many Sole Traders or Partnerships. The results: Shop PLC Partnership Sole Trader Sainsbury's ? Wilkinsons ? What everyone Wants ? JD Sports ? M&S ? McDonalds ? Phones 4 U ? Game ? Argos ? Blue Inc ? Zero Zero ? QS ? Woolworths ? Lunn Polly ? Iceland ? Burger King ? Specsavers ? Robert Dyas ? Bells Fish and Chips ? Boot Opticians ? Analysis: My results show that the most popular shop was a plc. This is because they have the money and resources to rent or buy the shops. There were only two sole traders. This could be due to the fact that they do not have the money to rent or buy the shop. As sole traders only have a small amount of capital they will not be able to afford a shop in Bexleyheath, which is a prime location. PLC's on the other hand have a lot of money so they will be able to afford the rent or even maybe the money to purchase the shop outright. ...read more.

Conclusion

I think that sole traders will be able to survive in a less populated area that bigger businesses would not be as interested in setting up in. a sole trader will have more success in this area as there will be less competition. Franchising may help a small business become more successful as they already have the name that is known and respected so they will have the customers already. The main company will help to set up the business, so this will help them to get the correct atmosphere and fell to the shop. This way you will still get the same feel of owning your own business, without all of the hasslw of setting it up. I didn't really have that many problems but it was hard to decide on which kind of shop it was. This is because not all PLC's have PLC in their name so it is not as easy to find out. I either had the option of going in and asking the people who work in the shop or I could take a well educated guess at which type of business it is. 1 ...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 Plan. After putting a lot of thought into what kind of business we ...

    Pressure groups May be concerned about the effect the business will have on the community in terms of noise, waste and litter. * Internal stakeholders are the people within the business or organisation. This could include cleaning staff in a school.

  2. English for business

    The world's number one exporting country is Germany. 12) The world's biggest restaurant chain McDonald's serves about 15 million hamburgers a day at its 9000 restaurants. 13) The world's largest food company is Nestle. 14) The world's greatest and busiest port is Rotterdam. 15) The world's greatest beer drinkers are the Germans. # how would you deal with Mr.

  1. Assignment to investigate two types of business organisations - Sole traders and partnerships.

    It also contains various information about the area. Sole Trader A sole trader is a business that is owned and controlled by one person, as the business is more commonly known as, a 'one man business'. The business is either owned by private individuals for example friends and family, this is called the private sector, or by the

  2. sole traders and franchise businesses- unit 1

    What type of ownership is McDonalds? McDonalds is in both the secondary and tertiary sectors this is due to the fact that cook the food on the premises and they also provide a service and sell their products. McDonalds is split into two sections: a PLC and franchise- over 70% of McDonalds restaurants are run by independent franchisees.

  1. 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.

  2. Importance of Human Resources Management

    the job it is necessary for Ford that they carry out the right procedure, if not then they can face problems with poorly motivated staff, which may make trouble before leaving and can lead to loss. The Recruitment process also involves a number of documentation.

  1. Business types The Sole Trader

    The minimum number of partners is two and the normal maximum is twenty, though there are exceptions. Partners normally draw up a written agreement, or partnership deed, which details the various rights and duties of each partner. The agreement covers: * Profit sharing ratios * The amounts of capital to

  2. Ann Hopkins Case Analysis

    In mid-1982, Thomas Beyer, the partner in charge of consulting services at OGS told Hopkins over lunch at the International Club that he would propose her as a partner in the admissions cycle about to begin (22). Thomas Beyer then had the first of a series of conversations with Ann

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