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Job roles in various functions

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Sole Traders This is the simplest way of starting business with very few rules. You will need to inform the Inland Revenue that you are self-employed for tax and national insurance contributions. As a sole trader, you will not need to notify Companies House, nor deal with any administrative or accounting requirements which are required of limited companies. You can quickly adapt to changes in your business with minimal bureaucratic changes required and you have complete control over your business and accounting affairs. However, a sole trader is also ultimately responsible for any liabilities should anything go wrong. Partnership A partnership is a type of business entity in which partners (owners) share with each other the profits or losses of the business. ...read more.


Private Company Limited by shares "Limited by shares" means that the company has shareholders, and that the liability of the shareholders to creditors of the company is limited to the capital originally invested, i.e. the nominal value of the shares and any premium paid in return for the issue of the shares by the company. A shareholder's personal assets are thereby protected in the event of the company's insolvency, but money invested in the company will be lost. Public Limited Company (PLC) A limited company may be "private" or "public". A private limited company's disclosure requirements are lighter, but for this reason its shares may not be offered to the general public (and therefore cannot be traded on a public stock exchange). ...read more.


3. James and John Smith are brothers who have opened up their own dentistry firm by investing equal amounts of money into the business. They have five members of staff working for them. 4. Sarah and Michael Wilburn run a bakery, which is a family business. Other members of the family have also invested money into the business and most of them work in the business. 5. Bella's Chippy is a fish & chip shop, Bella runs the business herself and has two members of staff. 6. Sign Makers make shop sign for businesses; they have over 60 employees working in their factory and office. 7. air and travel is an airline company based in Europe. They have over 1000 staff working for them and are well known all over Europe. 8. ...read more.

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