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Internal organisation

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Peter Shilton S11 Internal organisation The way in which a business is run is known as the internal organisation of a business. This can be a number of ways, including partnerships, sole proprietorships, and public or private limited companies. Since I am going to be setting up such a small company, I will need to set up as either a partnership or a sole proprietorship. A partnership is where two or more people run a business together. They usually do not want to hold total responsibility for the business whilst still being able to do their own work. A sole trader is a person that runs a business alone. ...read more.


much needs to be taken from just one person as in a sole proprietorship The distribution of the companies profits can cause problems, as one partner may feel that they deserve more than another Somebody to consult about decisions so that you are less likely to make wrong decisions Decisions may cause arguments because the partners may disagree over which decision to make You don't need to work as many hours, and you can have more holidays than in a sole proprietorship as there is another person to share the workload with If one partner feels another takes too many holidays, or is putting in a lot less work than themselves then arguments may be caused Sole Proprietorship Advantages Disadvantages Small, easily ...read more.


are ill Money is saved on taxes, and only the Inland Revenue and Customs and Excise need to know how well the business is doing Unlimited liability: if your business loses a lot of money or becomes in debt you are personally liable, and any of your possessions may be taken You do not have to share your money with anybody else, and can do whatever you wish with any profits Nobody to share responsibility with, therefore you need to be knowledgeable in all areas of business You do not need to publish any information which could be seen by other businesses or the public If you want any time off the business would have to stop running whilst you are away ...read more.

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