Public Limited Company (PLC) A business whose ownership is traded on a stock exchange. Shares can be bought and sold by anyone. Public companies are strictly regulated. Public companies are required by law to publish their accurate accounts.  Advantages of PLC Limited liability. Easier to raise finance. Anyone can buy shares. Disadvantages of PLC Not […]

Private Limited Company (Ltd) A private limited company is owned by shareholders. It has limited liability and therefore shareholders can only lose what they have invested in the business. Their personal assets will be separate from the business and protected. Shares in a private limited company are not available to the general public. How to […]

Deed of Partnership The rules of the partnership described in the Deed of Partnership. This is a document containing an agreement that details the rights and obligations of each partner. Examples of what’s included in The Deed of Partnership. Voting rights of each partner. What happens if a partner retires in the partnership. The Amount of capital each […]

Partnerships Ownership of business shared between partners Partnerships have between two and twenty members. Ownership of the business is shared between all partners. Deed of Partnership The rules of the partnership described in the Deed of Partnership.   This is a document containing an agreement that details the rights and obligations of each partner.  Examples of […]

Sole Traders This is a business that is owned by one person.  A sole trader is one of the most common business forms in the UK. A sole trader can have more than one employee. Advantages Less accounting and administration required Easy to close down the business Quicker decision-making It is cheaper and quicker to […]

Business Ownership Types/ Forms of Business The main forms of business in the UK are highlighted below. Sole trader (Click here) Partnership (Click here) Private Limited Company (“Ltd”) (Click here) Public Limited Company (“Plc”) (Click here) Co-operatives Franchises Public sector

Unlimited Liability Business owners are legally liable for all debts of the business. (Sole Traders or Partnerships have unlimited liability) The business owners may even have to sell their own possessions to pay off their debts.  Limited liability Shareholders can only lose the value of their (shares) investment in the business. Shareholders are separate from […]

PESTLE – External Environment The PESTLE acronym is used to identify the macro (external) factors facing a business. P = Political E = Economic S = Social T = Technological L = Legal E = Environment Political factors This factor is influenced by the government’s political actions. Government intervention through taxes, regulations and policies will impact […]

Market Research Market research is the process of collecting and analysing information about the consumers and competitors in the market. Primary Research Primary research is research that is done first hand e.g. focus groups, questionnaires, interviews and surveys. Advantages of primary research 1.Up to date Primary research is up to date as the research is […]