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

First I have to decide upon a type of ownership for my business which is suitable for my situation and the three types of ownership which are suitable for me are sole trader, partnership and private limited company and the three types of ownership which a

Extracts from this document...

Introduction

Ownership First I have to decide upon a type of ownership for my business which is suitable for my situation and the three types of ownership which are suitable for me are sole trader, partnership and private limited company and the three types of ownership which aren't suitable for me are franchises, public limited company and co operative. Franchise- isn't suitable for me as it requires me to run a branch of a large company which isn't suitable for me as it takes large start up costs A public limited company- takes several people, which causes me to have less control over my business and the profit I get from my business will be decreased and my business will be on the stock market so anyone can buy stock ...read more.

Middle

Sole trader sole trader wouldn't suit my business, I would have full control over my business and I would get all the profit from my business but I would get any support for my business so I would have a greater chance of my business failing and I would have to put all the money into my business and I would also have unlimited liability which could involve me losing my home, which make being a sole trader to risky. Private limited company Allows me to raise the funds for my business quicker and easier but I would have little control over my business, the business would have limited liability so I wouldn't have to sell any of my assets out of the business but the downside to a private ...read more.

Conclusion

Primary research As it primarily obtain, I will be the first person to access this information so I will be able to indicate who my main market is. My primary research will also help me offer the best service for my customers; also help me offer the right price and a great range of products. Secondary research As secondary research is research that already exists will help me to find competitor price and help me to find a good location to suit my business, it will also help me to see the range of product I can offer and also potential products that I could offer to my customers. It also allows me to find any means of transport near possible locations and rent prices. ...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

    I believe the public chose these options because these days, computers can do wonderful graphical colour images that can astound many. Pictures always add feeling and flavour to an advert and so I would advise that Errol do so. The radar highlights people interests, when deciding to move from their standard garage.

  2. The type of ownership Cadbury Schweppes PLC.

    * There is someone to consult over business decisions. * There are no legal rules and regulations to complete when setting up the business. * Normally this type of business is larger than sole trader which gives the Cadbury family a stronger position to raise money from outside of the company.

  1. Type of Business Ownership, sectors, types of bysiness and size of business

    2.1e Size The size of the business depends on the turnover, balance sheets totals and number of employees. A small business: A small business has a turnover under 2.8million. This means that the business makes under 2.8million profit. The balance sheet total for a small business would have to be under 1.4million.

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

    This will stop other investors placing takeovers bids in order for them to own the business which in this case is Tesco, without having to have to pay the market value of the business but instead paying much less as the shares would have most likely dropped because of the loss the business may be making.

  1. Tesco Research

    Telephones are quick and efficient where by you are most likely to get the information passed on the feedback as well. Tesco employees are contacted through phones like when a manager has a shift that needs to be covered, he will call different employees who might be available at that particular time.

  2. Business Studies

    revenue statement may not give a clear representation of the businesses profitability > Complicated and detailed accounts will confuse individuals who haven't got a background in accounting > Actual profit may also be artificially reduced through complicated procedures to reduce the business's tax liabilities > When a asset is listed

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

    In a partnership the owners work together on their business. A partnership is a type of joint investment. There is a deed of partnership which states how the profits and losses will be shared etc. It is easier to set up a partnership than to set up a sole trader business.

  2. Explain the main differences between a Sole Trader, a Limited Company and a Public ...

    Therefore, there are few legal constraints and the owner has unlimited liability for the company. This means that any debts are the single owner's debts, not company's debts and so if the owner stops trading with large debts, the owner will be personally responsible for these debts.

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