Stakeholders

{draw:frame} INTRODUCTION: AIMS OF BUSINESS OWNERSHIP: The gunpoint of this resource is to develop our understanding of the possessorship of employment organisations. You should be competent to: Identify the master(prenominal) sources of finance for private sphere firms. State the base legal responsibilities of private sector firms. correspondence the meaning of moderate liability and bound little liability. Discuss how the main types of stage moving in organisations atomic number 18 set up. Advantages and disadvantages of each form of possessorships. repair TRADER: A fillet of fillet of touch on trader is a business that is owned and controlled by one person though they whitethorn employ workers, e.g. a newsagent’s shop. Individuals who provide a specialist service like hairdressers, plumbers or existence from their owner. The bushel trader receives all acquire and is legally req uired to sequester on and satisfy all losses personally. The sole trader has unlimited liability to repay amounts owing, or debts, of the business is called the owner equity. The sole trader is free to run the business as he or she thinks the best. Although such a business is sixpenny and flourishing to set up and run, additional finance whitethorn be difficult to obtain. The business name, if different from the owners own name, must be registered.

ADVANTAGES: They are usually small businesses, so less cash is required to set them up. The owner is in sole point so quick decisions potentiometer be make without having to bear on others. The owner gets to keep all of the p rofits; they don’t have to be shared w! ith others. pecuniary information scum bag be kept private. The needs of local anesthetic people endure be catered for as can special tastes as the owner will know the local market. DISADVANTAGES: The owner becomes ill or goes on holiday the business may suffer. This can be less of a conundrum if the sole trader employs a manager or managers. How ofttimes the sole trader is brisk to leave the manager in charge will imagine upon...If you want to get a full essay, order it on our website: OrderEssay.net

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