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

Describe the following features of their two chosen businesses.

Extracts from this document...

Introduction

A1 Describe the following features of their two chosen businesses. Ownership In this section I will look at the public and the private sector in the different types of business ownership. Private Sector Business' which are in the private sector means that they are owned and run by individuals. There are different types of ownership; there are small and large businesses. These business' are run so that the owner will make a profit. Public Sector These are owned and controlled by the government (the state). These businesses provide a service for the general public. The money raised by the public, by paying taxes goes toward the funding for these businesses. Why Privatise? There are many reasons for privatising these include, to raise money to fund other services. Another is to increase efficiency; this means they want good effectiveness against another companies, this also means that the owner can do what they want. Another reason is to spread wealth through shareholders. Also they want to generate competition with other companies so that they can they can make a profit because they can get more customers. Limited Liability A limited liability means you only use your original investment. ...read more.

Middle

Can be a limited company therefore you only pay back what you own the bank (limited liability). Commitment this means that the workers are committed. Also you are not forced to be owners. However there are many disadvantages these include difficult to raise external finance (funds) from places such as banks. Slow decision making this means that it takes longer to make a decision as everyone has to have a say. Business decisions verses social beliefs this means that you can be against something but for the sake of the business you have to do it. Some people have a lack of business skill. Franchise This means a well known business will allow, 'sell' the right to trade under their name. For example Spar might give the right to a business man. There are many advantages these include high success rate. Help and support from the well known business. Fewer decisions to make as they are already made for you. Easier to raise a capita as you have the well known business's name. Protected by BFA code, the BFA code is the British Franchise Association it is good to have protection from them as they will raise a complaint for you and look it up and it stops you from misleading. ...read more.

Conclusion

There wasn't much money around so therefore football was a cheap activity as there was no official ground and the costs involved in the upkeep of a stadium thwaites were the sponsors then. There are many people who run Rovers. These are made up of 5 trustees who are given the responsibility of overseeing the running of the club after Jack Walker's death. The Jack walker trust is the major share holder since Jack Walker's death, they own 99.9%. The Walker family form part of the Board of directors. The other directors own the remaining 0.1%. Although Blackburn Rovers run the day to day activities they still have to report to the trustees. Tom Finn is the Managing Director responsible for most of the day to day operations of the club. The trust set annual budgets along with the Rovers Board. John Williams is the club Chairman responsible for football business and operations together with a focus on strategic schemes, including an appraisal of the opportunities for new investment into the club. David Brown is Vice Chairman who will provide a link to the shareholders. Robert Coar and Richard Matthewman are non-executive directors. The Vice Presidents are Iain Stanners, George Root, Keith Lee and Milton Jeffries. ?? ?? ?? ?? ...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 Accounting & Finance 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 Accounting & Finance essays

  1. Investigating Richer Sounds PLC.

    > Checking bank statements and other banking records. > Answering individual queries from colleagues about their pay or pay slip and recording changed information, such as change of address or maternity leave. > Costing new projects and obtaining additional capital for these are required.2 The type of work undertaken by

  2. Complete Report on Askari Commercial Bank

    Operations And Credit Group 2. Corporate Banking And Financial Institutions Group 3. Retail Banking Group 1. Operation And Credit Group This group is responsible for all operational as well as credit and risk management activities of bank. This includes development and implementation of systems, operational policies and procedures, process

  1. Financial Analysis of Matalan PLC

    A generally acceptable current ratio is 2 to 1. The minimum acceptable current ratio is obviously 1:1, but that relationship is usually playing it too close for comfort. If Matalan decide their business's current ratio is too low, they may be able to raise it by (Wood, 1996): * Paying some debts.

  2. The Purpose of Keeping Accurate Accounts

    The firm can change its depreciation policy and method of calculation, but only for a good reason. The purpose of applying depreciation is therefore to adjust annual profits, to avid charging the full amount of depreciation in a single year, which would distort the year's profits.

  1. This report has been produced as evidence for Unit 9 - 'Financial Services' - ...

    and are repayable over a period of time, usually between 6 months and 10 years. Lenders charge interest, which can either be fixed or variable, on the amount borrowed. This interest charge is expressed as an APR (annual percentage rate).

  2. What does Finance involve.

    they are better price and I do not think I need to spend a lot of buy for those items. Also Argos has better quality then EBay and Woolworth so the equipments are better. Above is the main list of equipments I will need to start my business I have

  1. Work placement at Family Mosaic.

    Description Maintaining information - In other organisations like Lambeth Council they store and maintain their information on a software called Oracle's e- procurement software. For example they use this software to store information like how many people they have given housing benefits to or giving people council tax or other services like parking.

  2. Planning the finance for my new business.

    �50 �50 �50 Gas Bill �67 �67 �67 �67 �67 �67 Phone �80 �80 �80 �80 �80 �80 Loan Repayment �65.42 �65.42 �65.42 �65.42 �65.42 �65.42 Council Tax �100 �100 �100 �100 �100 �100 Total Outflow �8,452.58 �4,235.90 �4,299.38 �4,235.90 �4,235.90 �4,235.90 Net Cashflow �-317.32 �764.10 �3,700.62 �2,164.10 �2,164.10 �2,164.10

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