Bells Fish and Chips Shop
Bells Fish and Chips shop is a Sole Trader, which means one person only owns it but may wish to employ a number of people.
The advantages of this company are that Graham keeps all the profit for himself and no one to tell him how the business should be run. The disadvantages of being a Sole Trader are that there are no holidays if you’re running the business on your own, and if the business goes bust or into debt he will have to sell his own possessions in order to pay off the debt.
It has unlimited liability which means that the owner may have to sell his own things if he doesn’t run the shop wisely. The purpose of the business is to sell fresh Fish and chips (Cod is there speciality), drinks and confectionary. The aims of bell fish and chip shop is to grow into a well-known business and profit maximise as much as they can. The scale of the business is a local business because the ownership is a Sole Trader, which means it has been started from scratch and only has one shop in Durham, and the size of the business is small because it employs seven people who work part time.
Ford Component Manufacturing LTD
The Ford Manufacturing Company is a Private Limited company which means shares are privately sold to friends and family.
The advantages are that the business can stay between family and friends and also have limited liability. The disadvantages are that they’re someone in the family or friends might not want to buy it and or it could start fight between people.
The shareholders are owners, which are family, and friends own the business. It has limited liability, which means they only lose the amount of money they invest. Unlimited people can own this business but the shares have to be sold only to friends and family. The purpose of the business is to make aeroplane parts like bolts, plates and nuts etc and export them around the world. The aims of the business is to profit maximise the business and make sure they have customer satisfaction. The size of the business is a medium sized business, which employs over 150 people in its factory. The scale of the business is national because it sell its products all around the UK.
The Prince’s Trust
The Prince’s trust was founded in 1976 by the Prince of Wales (Prince Charles) and is a non-profit making organisation, which means it provides a service to the public.
The advantages of this type of business are that you have a good feeling of helping others and it has limited liability. The disadvantages are that you might not be able to make £1 million to keep the trust going.
It has limited liability which means people only lose the amount of money they invest, the purpose of the charity is to offer training to people who want to start up small businesses, offers a range of opportunities for young people, mentoring and advice as well as much more. The main aim of the company is to provide a service to youths who face barriers and to grow more popular in England, Ireland and Wales. The charity is very large because it has over 7,000 volunteers which means they don’t get paid they just get help to start their own business which is called a surplus and employs over 700 people who get paid and needs to raise £ 1 million each week to keep the organisation going, they get help from the European Union, the UK government and the national lottery funds to do this. The charity is a national business in the UK because the trust is only helping people within the UK boundary and is also the leading youth charity in the UK.
