• 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 Studies Edexcel Coursework

    clean would make him seem organised and professional to the eye, and attracting potential customers is what he wants. Business cards Advantages: Business cards are extremely useful and handy for promoting the business further to first time customers, or to just professionalise the image of the business.

  2. Business Studies

    debt they are vulnerable to higher interest rates Changes to interest rates > When interest rates are low it is acceptable for a business to have a higher level of gearing and a lower level of solvency Liquidity and solvency as measures of business success > Current ratio and gearing

  1. Ann Hopkins Case Analysis

    The partnership evaluation process at PW was not perfect and was very subjective and in Ann Hopkins case, it was very sexes. There were many gender biased comments made against Ann Hopkins including changing her dress, hair style, make-up, as well as voice, speech, and mannerisms.

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

    contributions such as donations and it states the amount the club was worth in the previous year. You can calculate the accumulated fund as: Net Assets = Accumulated Fund Seer Green Golf Club Balance Sheet as at 31.3.04 Fixed Assets Cost Depreciation Net Freehold property 1250000 0 1250000 Club house

  1. Importance of Human Resources Management

    Local Employment: The state of local labour market is as significant as what is happening nationally. Firms like Ford need to know about the supply of labour on the locations, where firms are operating, they also need to know about local wage rates and income levels in order to fix

  2. English for business

    Taking minutes involves two skills: listening and note taking. In a society that communicates through visual images, listening has become a highly complex skill. Most people will be thinking and speaking at the same time and sometimes they will all be talking at once.

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

    and services that inform, educate and entertain' Apple: 'Apple is committed to bringing the best personal computing experience to students, educators, creative professionals and consumers around the world through its innovative hardware, software and Internet offerings' After researching into some of the worlds most successful businesses mission statements, I now

  2. What would be the most effective way to market a new healthy eating option ...

    As you may have already noticed the term SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. The Strengths and Weaknesses in the SWOT are internal factors whereas the Opportunities and Threats are external factors. In a SWOT analysis there can be many strengths, weaknesses, opportunities and threats.

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