Types of Business

Types of Business

Types of Business Different businesses attempt to do different things, these businesses fall into 3 main types: Private Public Voluntary/Third sector (Known as the Sectors of Economy) Private Sector Ownershi Owned by one or more private p owners who have invested their own money (CAPITAL) in them

Purpose Started in order to provide goods or services Survival In order to survive, a private business must earn more than it spends (make a profit) The following businesses are in the private sector: Research Task Basic Definition

Sole Trader Business owned by one person Can employ other people but run by one person Task 1 Partnership Business owned by 220 people Requires a Deed of Partnership (Partnership Agreement)

What is this? Rules of the business: how it is run, share of profits, partner Homewor responsibilities k Task Private Limited Company (Ltd) Owned by shareholders Unable to buy shares unless you are invited to invest in the

company Have limited liability only lose the money you invested if the company fails Task 3 Franchise Franchise the permission given by one business to another to sell goods or services using its name One

firm (franchisee) pays for the right to run under the name of another (franchisor) Task 2 Public Sector Ownership Funded by government (central and local) and tends to supply public services rather than produce goods. Funded through taxation Purpose The public sector provides a large range of services, for

example: Central Government national health, police, defence. Local Government education, libraries, roads Public Corporations owned and run by state on behalf of people. Nationalised industries. Many have been privatised! Central Government

Organisations National services such as Treasury, Defence, and Health Local Authorities provide services like refuse collection, financed by council tax. Task 4 and 5 Voluntary/Third Sector Ownershi These are not owned by any p

individual people. However, someone will be responsible for ensuring that it sets targets and budgets and does what it was set up to do. Purpose In most instances they try to help particular types of people eg guide dogs for the blind, Oxfam, etc. Survival In order to survive they normally must at least break even (ie spend no more than they take in through fundraising, grants, donations etc.) Charities Government regulates activities and keeps a register of

charities. They are exempt from some taxes. Voluntary Organisations Run and staffed by volunteers. Task 6 Social Enterprise (These can exist in all sectors) Businesses which exist to address social or environmental need, rather than maximising profit for shareholders or owners Co-operatives

Credit unions Housing associations Charities Community businesses Task 7

Recently Viewed Presentations

  • Solving Trigonometric Equations - Cengage

    Solving Trigonometric Equations - Cengage

    All angles that are coterminal with ± are also solutions and can be expressed by adding integer multiples of 2π. π 3 π 3 The general solution can be written as = ± + 2kπ . π 3 From cos...
  • TITLU - e-birouvirtual.ro

    TITLU - e-birouvirtual.ro

    Diferența dintre guvernare și management Vă sprijinim să deveniţi întreprinzător în mileniul trei!
  • Maximising the Impact of Research April 2016 Dr

    Maximising the Impact of Research April 2016 Dr

    We have invested around £1.8bn in innovation, which has been more than matched by the private sector - returning between £11.5bn and £13.1bn to the economy.
  • PowerPoint-Präsentation


    ECAD-MCAD Collaboration Philippe Bridenne Business Development Mechatronic Components Starting point in 2005 Thinking Mechatronic : What is the most used Collaboration Method in Engineering and Design?
  • AFRICAN DEVELOPMENT BANK Investor Marketing Presentation ...

    AFRICAN DEVELOPMENT BANK Investor Marketing Presentation ...

    African Development Bank Financial and Operational Analysis May 2005 Table of Contents I. Bank Group Profile (1995 - 2004) Development of competitive private sector across Africa is a strategic priority for the Bank Group The Bank's largest shareholder, Nigeria, supports...
  • Energy and Life - schurzhs.org

    Energy and Life - schurzhs.org

    Energy- ability to cause change All cell functions need energy! ... oxygen In Mitochondria In Chloroplasts No light needed Light needed Occurs in all living organisms In the presence of chlorophyll- plants only O2 taken in O2 given off CO2...
  • How to Sign Up for a MyAmeriCorps Account

    How to Sign Up for a MyAmeriCorps Account

    What is a Loan Forbearance? Individuals who are serving in a term of service, in an approved AmeriCorps position, may be eligible to postpone the repayment of their qualified student loans through an action called Loan Forbearance. Forbearance is a...
  • Spontaneous Processes and Entropy - Winona

    Spontaneous Processes and Entropy - Winona

    Spontaneous Processes and Entropy Thermodynamics lets us predict whether a process will occur but gives no information about the amount of time required for the process. A spontaneous process is one that occurs without outside intervention. Entropy The driving force...