Tag: partnership
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Multinational corporation
Multi-nationals A company which produces or provides services in more than one country The advantages and disadvantages they provide to the country where they operate are: – Advantages: employment, tax revenue, quality products – Disadvantages: harm to domestic industry
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Public and Private companies
Private companies Private limited is a business owned and managed by at least 2 persons Owners are referred to as shareholders Private companies have limited liability Private companies raise finance by issuing share Cannot sell share without consent of the other shareholders Public companies Public limited is a business owned and managed by at…
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What is a partnership?
Partnership Partnership is a business owned and managed by at least 2 persons Owners of partnership are referred to as partners Partner have unlimited liability Partnerships raise more finance Partners make decisions after consultation Partnership business is easy to set up
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Difference between unincorporated Business and Limited company
Unincorporated business Limited company Example: Sole trader, partnerships Example: Private limited company No shares can be issued Shares can be issued Unlimited liability Limited liability Not a legal entity Legal entity Less capital available More capital available If the owner dies business dies If the owner dies th business still exists
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Difference between Sole trader and Partnerhip
Sole trader Partnership 1 owner 2-20 people are owners Decision made by 1 person Decisions are made by partners Limited capital Extra capital Sole trader enjoys all profits Partners have to share the profit Sole trader has to suffer all losses Partners have to share the losses
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What is a Franchise?
Franchise To use the name of a large business to conduct business activities Franchisee uses the name Franchisor grants the permission to franchisee to use the name for a fees Eg. Mc Donald’s has many restaurants all over the world which are mostly run by the franchisees
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Types of Business organisations
Types of business organisations Sole trader Partnership Limited companies Franchise Joint ventures
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Private Sector Organisations
Organizations in the private sector Sole trader Partnerships Private limited company Public limited company Co-operatives Aims of organisations in the private sector Sole traders Make profit or survive in recession Make all decisions Partnerships To make profit Get more money and ideas Private limited companies Limited liability and make profit Public limited companies Raise…