Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Business ownership types assignment
What is the difference between sole proprietorship, partnership and corporation in terms of organization structure
Different forms of business ownership
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Recommended: Business ownership types assignment
Different types of ownership of business ranging from the simple to the
complex. Here I will cover the main types, outlining the advantages and
disadvantages of each leading to a decision on which type of ownership
is most appropriate for my business.
Types of ownership
==================
There are many different types of ownership of business ranging from
the simple to the complex. Here I will cover the main types, outlining
the advantages and disadvantages of each leading to a decision on
which type of ownership is most appropriate for my business.
Sole Proprietors
================
A sole proprietor, or sole trader, is the name given to someone who
runs the business by themselves. This is usually someone who is
particularly skilled in one area or had a very good and marketable
idea. There are many advantages and disadvantages to setting up a sole
proprietorship.
Advantages
==========
Sole proprietorships often require less capital to start up than the
bigger businesses. This is because they are usually smaller and have
less staff to start with. This cost is minimal and often only a few
hundred pounds.
Sole proprietorships are easy to set up, few forms and licenses need
to be obtained and the business can start almost straight away,
resulting in less time being unemployed. The only official form you
need to fill in is a inland revenue form for use when calculating
income tax, it also entitles you to many tax advantages outlined
later. Of course you need to write a business plan, complete with
cashflow forecasts etc but this was it.
These businesses are easy to maintain and run. This is because the
owner has little or no oppositon for her ideas and plans. Also, it is
possible for the owner to act as their own accountant, saving them
lots of money.
The owner has an increased level of control, they have the rite to
change the business whenever they feel like it and have the advantage
of not having to call shareholder meetings.
One of the largest advantages is the allocation of profits. Unlike
larger companies sole proprietorships don't need to distribute profit
amongst it's shareholders. All profit goes directly to the owner, who
does with it as he or she sees fit.
Because of the owner's status as a sole trader, she does not need to
publish her accounts. Therefore she can keep her business priv...
... middle of paper ...
...large amounts of debt then the owners
would not be obliged to pay off any of that personally. This is a big
bonus to the company as it is much easier to attract potential
investors who are not willing to risk unlimited liability. These are
the main advantages of becoming a limited company, and while they
don't seem much they are actually a huge bonus.
Disadvantages
=============
A limited company has to display information to the public at the end
of every fiscal year. Some companies may not want so much information
released. It can also be fairly expensive, costing a minimum of £700 a
year to prepare a report.
Complying with the rules of the London stock exchange is also a big
disadvantage to any limited company and very costly. However companies
can list themselves in the alternative investment market (AIM). This
is quite a lot cheaper but is seen as more risky by prospective
employers. This can make it quite hard for a business to attract new
shareholders.
Suitability
===========
Overall I think this is the most suitable choice for my business. This
way I am likely to attract more investors plus I would not have to
suffer from unlimited liability.
When Australia’s 21st Prime Minister, Gough Whitlam, was swept into power in December 1972 there was huge anticipation for dramatic and swift change. Australia had been under the control of a conservative liberal government for 23 consecutive years, and Whitlam’s promises if social change were eagerly anticipated. Whitlam, despite his failings as a negotiator, managed to implement a huge array of reforms and changes, many of which shaped Australia into the country it is today. However is that enough to say he succeeded? Even Whitlam today admits that he regrets doing “too much too soon”, and perhaps Whitlam’s government was a government that was too socially progressive for its time, which could perchance have been a foreshadowing of things to come for the most recent labor government of Julia Gillard which has been labeled by some as the most incompetent government since Whitlam. Gough Whitlam has had the most books written and published about him than any other Australian Prime Minister to Date. This essay will argue that Whitlam was a successful leader of the Australian Labor Party (ALP), who had the ability and charisma to lead Australia in an era of prosperity; he did however succumbed to a few grave errors of judgment that ultimately led to his downfall, however his ultimate goal was to transform Australia which he achieved. Whitlam’s’ errors were seen as being due to his inability take advice from senior figures on how to turn his amateur government into a competent one and his inflexible approach to dealing with the hostile senate that the Australian public gave him, and often led to his government being labeled the worst in Australian history and as a failure.
This can actually be one of the most easy ways for meeting your requirements, while clearing a huge debt.
(Ramsey 108). Making sacrifices with your money now, will make your hole of debt that much less. The less you have to worry about debt, is the more you can focus on you. Around 30% of student loan borrowers have dropped out of college and have to continue paying the debt with just a high school graduate salary.
As of 2016, American students have accrued a massive 1.3 trillion in student loan debt. Just 10 years ago, the nation’s balance was only $447 billion (Clements). This ever-present cumulative burden has caused many post graduate Americans to delay important life events such as marriage, homeownership and children because of this substantial encumbrance (Clements). The debt will only continue to grow with neglect, so the most effective action to take would be eliminating the cost altogether.
“Debt Burden: Repaying Student Debt.” American Council on Education. One Dupont Circle NW. Sep. 2004. Web. 12 Nov. 2011.
In its current practice, the roles and functions of cost accounting includes additional functions. More specifically, it can be described as more than an inventory tracking system. This is because cost accounting entails defining the charges of activities and goods (Horngren & Srikant, 2000). Because of its many roles and functions, this accounting method has been of great help to growth and expansion of business planning and management. Again, the reports offer assistance in the planning and growth projections for different business functions and units within the organization. The information cost accountants offer different uses, some of which aid in the controllership function, as well as the industrial
school. These facts help show that student loans are not a reward for you but are a burden.
...thousands of years. Generally, bilingual education can mean any use of two languages in school, by teachers, students, or both – for a variety of social and pedagogical purposes. It also refers to the different approaches in the classroom that use the native languages of English language learners (ELLs) for instruction. These approaches include teaching English, fostering academic achievement, acculturating immigrants to a new society, and preserving a minority group’s linguistic and cultural heritage. Building on, rather than just discarding the students’ native-language skills, create a stronger foundation for success in English and academics. Also, if students learn languages at a younger age, it will be easier to remember and learn them, rather than if they were older. It helps to learn another language for students, and can later be useful in the future.
Before discussing the impacts of bilingualism, another concept that is the concept of SECOND LANGUAGE is necessary to be differentiated from bilingualism.”SECOND LANGUAGE IS THE LANGUAGE WHICH IS LEARNT AFTER BEEN MASTER ALREADY IN ONE LANGUAGE”. It also has impacts as bilingualism have and also have similarities in their impacts.
Abraham Maslow was a psychologist who was not satisfied with the way things had always been done and he did not like the way other psychologists viewed people. He believed that individuals have great potential and thought that there had to be more to humans than simply rewards, punishments, and subconscious urges. To Maslow, people were full of positive potential. He developed humanistic psychology, which focuses on the potential of people to become all that they can be. Other psychologists helped develop different elements in humanistic psychology, but Maslow is largely considered to be the father of the humanist movement in psychology. Weiten (2013) mentioned that Maslow argued that humans have an innate drive towards personal growth that is, evolution toward a higher state of being (p. 377). Maslow wanted to understand what motivates an individual, believing that individuals possess a motivational system unrelated to rewards or unconscious desires. Maslow (1943) stated that people are motivated to attain certain needs. When one need is fulfilled, an individual seeks to fulfill the next one. Maslow 's greatest
Little empirical research has been carried out in the United Kingdom on everyday experiences of debt. Findings showed that socio demographic factors played a relatively minor role in debt repayment. In the study by Livingstone and Lunt (1992) found that attitudinal factor is the important predictors of debt repayment.
Mortgages, car loans, student loans, and having children, are all situations that can drive families to the overwhelming doom of debt. Debt is mostly overlooked for the simple reason that it may be considered normal. Certain types of debt, like car and mortgage payments, are almost always expected. Debt is sometimes very difficult to evade, especially if money is not managed sensibly. Many families accumulate debt due to overspending, medical bills, and unemployment.
Within every major economy, a great factor in providing the energy of the core of the nations economy is the small and medium enterprises. These cluster of firms are what provide new economic activity, new innovative products and services, along with growing employment and in general a crucial system in ensuring the economy is at a stable growth level. With a majority of this activity stemming from family controlled or managed businesses, the focus on developing a global and long term perspective for these firms are ever growing in importance because of the global perspective entrepreneurship has started to take.
As time goes by and as the global community develops, the world grows more and more international, making second or third language acquisition become necessary to the majority. With the growing importance of multiple language ability, more and more parents think of bilingual or multilingual education, which means acquisitions of two or more languages, for their kids. In fact, we do have many reasons showing why multilingual education is important and beneficial, such as aspects of interpersonal relationship, employment, brain health, and so on.
3.Longevity: the sole proprietorship has a limited lifespan once the owner dies or moves on from the sole proprietorship will cease to exist