business ownership and activity

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Shabina yeasmin

Level 1 1A

Describe the main activities, the main features of the ownership and the main aims and activities of each business.

                           

                For my portfolio I have been investigating for a small business in my local area, the small business I have investigated about is called DECORIUM. I have visited the shop in person and asked the owner about their business which helps me to find out more information about the business.

                                       

                                   The main activity of decorium

Decorium is a small business which operates in the tertiary sector. Tertiary sector means the sector where they sales goods. They sales good in three main areas these are cards, gifts and Turkish ornaments that suits for all occasions.

They have some exceptional gifts such as hand made vases to silver plated frames and effective wrapping paper service.  Their product includes soft toys, Me to you range, Glassware, Ornaments, Candles, Plates, Vases, Money boxes, Trinket boxes, Candle lights, Clocks and teddies.

Decorium sells birthday cards, friendships and greeting cards, they also sales seasonal gifts such as charismas, mother day and Valentines Day. The accessories they sells its include Necklaces, rings, sets, sterling silver, bangles, fashion bags, evening bags, scarves, hats etc.

Decorium open Monday to Saturday from 9 am to 6.30 pm and 10 am to 4 pm on Sundays. It doesn’t have many employees, only the owner and two other employees work in the shop.

Decorium also has a online shop and they use Royal Mail's Delivery service to delivered their goods. They purchased items to the customer specified address when the customers orders their item and made their payment. They take orders for fresh flowers for Mothers Day and Valentine's Day and also provide free local delivery. Dcorium provide some facility to increase its sells. For example It offers free wrapping paper when a customers buy gift from the shop so the customers don’t have to worry about wrapping

Decorium sells very unique gifts which they imports from Turkey. They don’t have to pay VAT due to its small size of business.

                                                Types of ownerships

Decorium is a family run business which established in 2004 by Mrs. Mine Gursoy. It has only one owner who is working fulltime and two employees who are working part time in the business. The workers are related to the owner. Decorium is not a VAT registered business. It has to pay tax according to the sales and profits they made.

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The owner Mrs. Gursoy controls the business and she also makes decisions. She can employ as many workers as she wishes.

Mrs. Gursoy is a sole trader because she used her own capital to set up and get started the business. The sole trader is the simplest business to develop as it initially consists of only one owner.

 

Advantages of Decorium being a Sole trader:

  • It was easy to start up the business for owner of Decorium because she only needed a small amount of capital.
  • The owner of Decorium don’t have ...

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