The main types of business organisations in the UK private sector are sole traders, partnerships, private limited companies and public limited companies. These are set up in this sector so that they survive by making a profit, if a business doesn’t make a profit it won’t be able to succeed against its competitors in its market. Each different area of the uk private sector has different rules in which it must abide by for legal reasons.
1.0 Introduction
This report will analyse the main types of business organisations in the UK private sector. Private sectors are the part of the economy that isn’t state controlled, they are ran by lots of individuals and companies. (Investopedia, 2016) A businesses main aim in the UK private sector is to survive by making a profit. (GCSE Bitesize, 2014) There are several different main types of business organisations in the UK private sector, these are sole traders, partnerships, companies and franchises. (Business Case Studies, Not Dated) “In the UK about 20% of sole traders operate in the construction industry, a further 20% in retailing, and about 10% in finance, and 10% in catering.” …show more content…
Merging as a company may also be due to the profit shares and dividends, so that they are shared more equally.
4.1 Plc Vs Ltd
The shares of a public limited company can be marketed to the public which is the total opposite to a private limited company where the shareholders have to be invited and asked to be shareholders in the business. In a public limited company the minimum number of shareholders is two whereas with a private limited company it is only one. The accounts of a public limited company have to be filled within 6 months of the year end where as private limited company is slightly longer being 9 months. In a private limited company you only need one director but a public limited company it has to be two.
4.2
1.0 Introduction
This report will analyse the main types of business organisations in the UK private sector. Private sectors are the part of the economy that isn’t state controlled, they are ran by lots of individuals and companies. (Investopedia, 2016) A businesses main aim in the UK private sector is to survive by making a profit. (GCSE Bitesize, 2014) There are several different main types of business organisations in the UK private sector, these are sole traders, partnerships, companies and franchises. (Business Case Studies, Not Dated) “In the UK about 20% of sole traders operate in the construction industry, a further 20% in retailing, and about 10% in finance, and 10% in catering.” …show more content…
Merging as a company may also be due to the profit shares and dividends, so that they are shared more equally.
4.1 Plc Vs Ltd
The shares of a public limited company can be marketed to the public which is the total opposite to a private limited company where the shareholders have to be invited and asked to be shareholders in the business. In a public limited company the minimum number of shareholders is two whereas with a private limited company it is only one. The accounts of a public limited company have to be filled within 6 months of the year end where as private limited company is slightly longer being 9 months. In a private limited company you only need one director but a public limited company it has to be two.
4.2