Legal forms of business 2015
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This document discusses different types of business structures including sole traders, partnerships, private limited companies, public limited companies, cooperatives, and franchises. It provides details on their key characteristics such as ownership, liability, management, and financing. For example, it states that a sole trader is an individual who owns and runs the business independently but has unlimited liability, while a partnership has between 2 to 20 partners who share profits but also have unlimited liability. It also outlines the differences between private and public limited companies in terms of shareholders, share trading, and financial reporting requirements.
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The Legal Forms Of Business
The document discusses different forms of business organization including sole proprietorships, partnerships, and limited companies. A sole proprietorship is owned and run by one person, while partnerships have two or more owners. Limited companies separate ownership and management, have shares that can be publicly traded, and provide owners with limited liability. Key factors to consider when choosing a business structure include the number of owners, tax implications, risk, and ability to raise capital.
6a. types of business ownership
The document discusses different types of business ownership structures including sole proprietorships, partnerships, corporations, cooperatives, and franchises. Sole proprietorships are owned and operated by one person who assumes all risks and responsibilities. Partnerships involve two or more co-owners who share profits, losses, and responsibilities. Corporations are legal entities where shareholders have limited liability and can more easily obtain funding. Cooperatives are owned and democratically controlled by their members. Franchises allow franchisees to use an existing business's name and systems.
FORMS OF OWNERSHIP
This document discusses different forms of business ownership including sole proprietorships, partnerships, corporations, and limited liability companies. It provides details on the key characteristics of each form such as division of profits, extent of liability, control, and taxation. The document also discusses factors to consider when choosing a form of ownership like the nature of the business, capital requirements, risk, and desire for control. Overall it serves as an introduction to the different forms of business and helps guide decisions around selecting an appropriate structure.
Forms of business ownership
The document discusses the three main forms of business organization: sole proprietorships, partnerships, and limited liability companies. It outlines the key factors to consider when selecting a business form, such as owner liability, ease of formation, ability to raise funds, and taxes. The advantages and disadvantages of each form are provided. Key elements of partnerships and limited liability companies are defined.
Sole proprietorship
This document discusses sole proprietorships and partnerships as forms of business organization. It defines a sole proprietorship as a business owned and managed by one person, noting they account for over 70% of US businesses but only 5% of sales. Key advantages are easy start-up, few regulations, and full control and profits for the owner. Disadvantages include limited funds, reliance on the owner, and the owner's unlimited liability. Partnerships are defined as businesses co-owned by two or more individuals who agree on responsibilities, profits, and losses. General partnerships provide joint management but unlimited liability, while limited partnerships and limited liability partnerships (LLPs) limit individual partners' liability. Advantages include resources, decision-making
1 types of organizations
This document discusses different types of business organizations including sole proprietorships, partnerships, limited companies, and public limited companies. It provides details on the key characteristics of each type. Some of the main points covered include:
- Sole proprietorships are owned and run by one individual who has full control but also bears all financial risk. Partnerships involve two or more individuals sharing ownership, management, and liability.
- Limited companies provide owners with limited liability but require more legal formalities to establish. They can sell shares to raise capital but shares cannot be publicly traded.
- Public limited companies can sell shares on a stock exchange, allowing them to raise large amounts of capital but they have less control than smaller
Types of business ownership
The document discusses different types of business ownership in the UK, including sole traders, partnerships, private limited companies, public limited companies, franchises, and public sector organizations. A sole trader owns and runs the business individually, while a partnership involves 2-20 owners sharing decision-making and profits. Private and public limited companies have shareholders and are separate legal entities from their owners. Franchises allow one business to use another's name and support. The public sector involves organizations controlled by the government to provide public services.
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This document is an introduction to a business studies textbook that will cover different forms of business ownership including sole proprietorships, partnerships, and franchises. It provides an overview of each type of ownership, listing their key advantages and disadvantages. For sole proprietorships, the advantages include ease of starting and ending the business, being your own boss, and retaining all profits, while the disadvantages are unlimited liability, limited financial resources, and overwhelming time commitment. Partnerships allow for more financial resources and pooled management but have disadvantages like unlimited liability and potential disagreements among partners. Franchises provide assistance from the franchisor but have large startup costs and restrictions from the franchise agreement.
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The Legal Forms Of Business
The document discusses different forms of business organization including sole proprietorships, partnerships, and limited companies. A sole proprietorship is owned and run by one person, while partnerships have two or more owners. Limited companies separate ownership and management, have shares that can be publicly traded, and provide owners with limited liability. Key factors to consider when choosing a business structure include the number of owners, tax implications, risk, and ability to raise capital.
6a. types of business ownership
The document discusses different types of business ownership structures including sole proprietorships, partnerships, corporations, cooperatives, and franchises. Sole proprietorships are owned and operated by one person who assumes all risks and responsibilities. Partnerships involve two or more co-owners who share profits, losses, and responsibilities. Corporations are legal entities where shareholders have limited liability and can more easily obtain funding. Cooperatives are owned and democratically controlled by their members. Franchises allow franchisees to use an existing business's name and systems.
FORMS OF OWNERSHIP
This document discusses different forms of business ownership including sole proprietorships, partnerships, corporations, and limited liability companies. It provides details on the key characteristics of each form such as division of profits, extent of liability, control, and taxation. The document also discusses factors to consider when choosing a form of ownership like the nature of the business, capital requirements, risk, and desire for control. Overall it serves as an introduction to the different forms of business and helps guide decisions around selecting an appropriate structure.
Forms of business ownership
The document discusses the three main forms of business organization: sole proprietorships, partnerships, and limited liability companies. It outlines the key factors to consider when selecting a business form, such as owner liability, ease of formation, ability to raise funds, and taxes. The advantages and disadvantages of each form are provided. Key elements of partnerships and limited liability companies are defined.
Sole proprietorship
This document discusses sole proprietorships and partnerships as forms of business organization. It defines a sole proprietorship as a business owned and managed by one person, noting they account for over 70% of US businesses but only 5% of sales. Key advantages are easy start-up, few regulations, and full control and profits for the owner. Disadvantages include limited funds, reliance on the owner, and the owner's unlimited liability. Partnerships are defined as businesses co-owned by two or more individuals who agree on responsibilities, profits, and losses. General partnerships provide joint management but unlimited liability, while limited partnerships and limited liability partnerships (LLPs) limit individual partners' liability. Advantages include resources, decision-making
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This document discusses different types of business organizations including sole proprietorships, partnerships, limited companies, and public limited companies. It provides details on the key characteristics of each type. Some of the main points covered include:
- Sole proprietorships are owned and run by one individual who has full control but also bears all financial risk. Partnerships involve two or more individuals sharing ownership, management, and liability.
- Limited companies provide owners with limited liability but require more legal formalities to establish. They can sell shares to raise capital but shares cannot be publicly traded.
- Public limited companies can sell shares on a stock exchange, allowing them to raise large amounts of capital but they have less control than smaller
Types of business ownership
The document discusses different types of business ownership in the UK, including sole traders, partnerships, private limited companies, public limited companies, franchises, and public sector organizations. A sole trader owns and runs the business individually, while a partnership involves 2-20 owners sharing decision-making and profits. Private and public limited companies have shareholders and are separate legal entities from their owners. Franchises allow one business to use another's name and support. The public sector involves organizations controlled by the government to provide public services.
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This document is an introduction to a business studies textbook that will cover different forms of business ownership including sole proprietorships, partnerships, and franchises. It provides an overview of each type of ownership, listing their key advantages and disadvantages. For sole proprietorships, the advantages include ease of starting and ending the business, being your own boss, and retaining all profits, while the disadvantages are unlimited liability, limited financial resources, and overwhelming time commitment. Partnerships allow for more financial resources and pooled management but have disadvantages like unlimited liability and potential disagreements among partners. Franchises provide assistance from the franchisor but have large startup costs and restrictions from the franchise agreement.
Legal forms of business ownership om
This document provides an overview of different forms of business ownership, including sole proprietorships, partnerships, and corporations. It describes the key characteristics of each form: sole proprietorships are owned by one individual and have unlimited liability but are easy to form; partnerships are owned by two or more individuals who share profits and liability; corporations are legally separate entities that can sell stock to raise capital but are more heavily regulated. The document also lists some advantages and disadvantages of each ownership structure and examines special types of business entities like S-corporations and LLCs.
Limited Liability
The document discusses different business structures for startups, focusing on the advantages and disadvantages of sole traders and limited companies. It notes that sole traders have unlimited liability for debts but are simple to set up, while limited companies provide shareholders with limited liability but involve more administration. The key consideration is balancing minimizing investment risk with choosing an appropriate structure for the business.
Public limited company
A public limited company has limited liability and can sell shares to the general public to raise finance. It has advantages like limited liabilities, being a separate legal unit that allows for large capital raises with no restrictions on share numbers. However, it also has disadvantages such as complicated legal formalities, more regulations and controls that make it difficult to control, and expenses associated with selling shares to the public which can cause a loss of control. Public limited companies operate in the private sector of industry and are owned by private individuals, with examples including Indian Oil Corporation Limited, Reliance Industries Limited, and Hindustan Petroleum Corporation Limited.
Limited and general partnerships
The document discusses accounting for partnerships. It describes how partnerships are organized, including partners contributing assets and liabilities that are recorded at fair market value, increasing or decreasing partner's capital accounts. It discusses accounting for partnerships by debiting partner withdrawals and crediting/debiting partner's capital for their share of net income/loss. Common methods for dividing partnership income or loss are also summarized, including using stated ratios, capital balances, or services and capital ratios.
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This document discusses the different forms of business organization in India including sole proprietorship, partnership, joint Hindu family business, cooperative society, and joint stock company. It provides details on their key features, merits, and demerits. Sole proprietorship is the simplest form owned and run by a single individual, while a partnership involves two or more owners. A joint Hindu family business is controlled by the head of the family. Cooperatives are formed to benefit society. Joint stock companies involve shareholders and must follow more regulations.
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This document discusses different forms of business ownership including sole proprietorships, partnerships, and corporations. It outlines key advantages and disadvantages of each structure. A sole proprietorship is owned by one person and provides full control but unlimited liability. A partnership is owned by two or more people who share risks, profits and liability. A corporation is a legal entity separate from its owners that allows for raising capital through stock but involves more complex formation and double taxation. The document aims to help students understand factors to consider when choosing a legal form of business.
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Sole proprietorship
A sole proprietorship is a business owned and operated by one individual. It is the easiest business type to form, requiring no formal establishment, though licenses may be needed. The sole proprietor owns all profits and assumes all losses and liabilities of the business. Upon the owner's death, the business ceases to exist. The sole proprietor reports business income and expenses on personal tax returns using various forms like Schedule C.
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This document discusses different forms of business ownership including sole proprietorships, partnerships, close corporations, and private and public companies. A sole proprietorship is owned and run by one individual who receives all profits but also bears unlimited responsibility for losses and debts. Partnerships involve two or more individuals who share profits but are also jointly and individually liable. Close corporations are simple entities with 1-10 members that provide liability protection. Private companies have restrictions on shareholders while public companies can sell shares publicly. The document compares advantages like flexibility with disadvantages like unlimited liability for each form of ownership.
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Sole proprietorships play an important role in the US economy, though they generate only about 6% of all sales. As the most common business structure, sole proprietorships offer business owners easy start-up, relatively few regulations, and full control over the business. However, sole proprietors have limited access to resources and lack permanence, with the business ceasing if the owner leaves. The biggest disadvantage is unlimited personal liability, meaning proprietors are legally responsible for all business debts.
Forms of ownership
This document discusses different forms of business ownership, including sole traders and partnerships. Sole traders have one owner who is solely responsible for management but also bears unlimited liability. Partnerships involve two or more owners who combine capital, skills, and abilities, allowing for greater financial strength but also joint liability. Key advantages of partnerships include easier access to capital and a wider range of expertise, while disadvantages include potential conflicts between partners and difficulty making urgent decisions. The document also outlines what is typically included in a partnership agreement.
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Sole proprietorship is a business owned and managed by one individual. Examples include small service or retail shops, bakeries, restaurants, roadside produce stands, and tea stalls. Sole proprietorship is the most popular form of business ownership due to the ease of starting and dissolving the business, the control the sole owner maintains, participation in all profits and losses, use of the owner's abilities, tax breaks, and secrecy. In conclusion, sole proprietorship is well-suited for individuals with little capital, some experience, and self-confidence who want to become self-employed.
Forms of business organisations
The document discusses different forms of business organizations including sole proprietorship, joint hindu family business, partnership, and companies. It provides characteristics and details about each type of organization. Specifically, it notes that sole proprietorship is the simplest form owned by one individual, partnership involves two or more individuals sharing profits, and companies have limited liability and are separate legal entities from their owners.
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The document discusses different forms of business organizations and their characteristics. It describes sole proprietorships, partnerships, joint Hindu family businesses, private and public limited companies, and cooperative societies. It covers aspects like ownership, control, liability, capital raising ability, and taxation. The ideal characteristics of a business form are also mentioned. The document emphasizes that the choice of a business form depends on factors like the nature of business, scale of operations, capital required, and degree of control and risk desired.
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A partnership consists of 2 to 20 co-owners engaged in business to make a profit. Partnerships are governed by partnership agreements that describe how profits and losses are shared, typically equally. The business must register with the local Companies Office and provide information about the partners and business. There are different types of partners with varying levels of involvement and liability. Partnerships allow for more capital than sole proprietorships and workload sharing but also carry risks of unlimited liability and potential disputes between partners.
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This document discusses different forms of business organization including sole proprietorship, partnership, Hindu undivided family business, cooperative firms, and joint stock companies.
For each form of business, the document outlines key features, merits, demerits, and types. Sole proprietorship is owned and controlled by one individual who has unlimited liability. A partnership has two or more members who share profits and risks. A Hindu undivided family business is controlled by the male head of the family. A cooperative firm is formed for the economic interests of its members. A joint stock company has a separate legal identity and shareholders have limited liability.
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Legal forms of business ownership om
This document provides an overview of different forms of business ownership, including sole proprietorships, partnerships, and corporations. It describes the key characteristics of each form: sole proprietorships are owned by one individual and have unlimited liability but are easy to form; partnerships are owned by two or more individuals who share profits and liability; corporations are legally separate entities that can sell stock to raise capital but are more heavily regulated. The document also lists some advantages and disadvantages of each ownership structure and examines special types of business entities like S-corporations and LLCs.
Limited Liability
The document discusses different business structures for startups, focusing on the advantages and disadvantages of sole traders and limited companies. It notes that sole traders have unlimited liability for debts but are simple to set up, while limited companies provide shareholders with limited liability but involve more administration. The key consideration is balancing minimizing investment risk with choosing an appropriate structure for the business.
Public limited company
A public limited company has limited liability and can sell shares to the general public to raise finance. It has advantages like limited liabilities, being a separate legal unit that allows for large capital raises with no restrictions on share numbers. However, it also has disadvantages such as complicated legal formalities, more regulations and controls that make it difficult to control, and expenses associated with selling shares to the public which can cause a loss of control. Public limited companies operate in the private sector of industry and are owned by private individuals, with examples including Indian Oil Corporation Limited, Reliance Industries Limited, and Hindustan Petroleum Corporation Limited.
Limited and general partnerships
The document discusses accounting for partnerships. It describes how partnerships are organized, including partners contributing assets and liabilities that are recorded at fair market value, increasing or decreasing partner's capital accounts. It discusses accounting for partnerships by debiting partner withdrawals and crediting/debiting partner's capital for their share of net income/loss. Common methods for dividing partnership income or loss are also summarized, including using stated ratios, capital balances, or services and capital ratios.
Forms of business organization
This document discusses the different forms of business organization in India including sole proprietorship, partnership, joint Hindu family business, cooperative society, and joint stock company. It provides details on their key features, merits, and demerits. Sole proprietorship is the simplest form owned and run by a single individual, while a partnership involves two or more owners. A joint Hindu family business is controlled by the head of the family. Cooperatives are formed to benefit society. Joint stock companies involve shareholders and must follow more regulations.
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This document discusses different forms of business ownership including sole proprietorships, partnerships, and corporations. It outlines key advantages and disadvantages of each structure. A sole proprietorship is owned by one person and provides full control but unlimited liability. A partnership is owned by two or more people who share risks, profits and liability. A corporation is a legal entity separate from its owners that allows for raising capital through stock but involves more complex formation and double taxation. The document aims to help students understand factors to consider when choosing a legal form of business.
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A sole proprietorship is a business owned and operated by one individual. It is the easiest business type to form, requiring no formal establishment, though licenses may be needed. The sole proprietor owns all profits and assumes all losses and liabilities of the business. Upon the owner's death, the business ceases to exist. The sole proprietor reports business income and expenses on personal tax returns using various forms like Schedule C.
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This document discusses different forms of business ownership including sole proprietorships, partnerships, close corporations, and private and public companies. A sole proprietorship is owned and run by one individual who receives all profits but also bears unlimited responsibility for losses and debts. Partnerships involve two or more individuals who share profits but are also jointly and individually liable. Close corporations are simple entities with 1-10 members that provide liability protection. Private companies have restrictions on shareholders while public companies can sell shares publicly. The document compares advantages like flexibility with disadvantages like unlimited liability for each form of ownership.
Ashish Chopra
Sole proprietorships play an important role in the US economy, though they generate only about 6% of all sales. As the most common business structure, sole proprietorships offer business owners easy start-up, relatively few regulations, and full control over the business. However, sole proprietors have limited access to resources and lack permanence, with the business ceasing if the owner leaves. The biggest disadvantage is unlimited personal liability, meaning proprietors are legally responsible for all business debts.
Forms of ownership
This document discusses different forms of business ownership, including sole traders and partnerships. Sole traders have one owner who is solely responsible for management but also bears unlimited liability. Partnerships involve two or more owners who combine capital, skills, and abilities, allowing for greater financial strength but also joint liability. Key advantages of partnerships include easier access to capital and a wider range of expertise, while disadvantages include potential conflicts between partners and difficulty making urgent decisions. The document also outlines what is typically included in a partnership agreement.
Sole Proprietorship
Sole proprietorship is a business owned and managed by one individual. Examples include small service or retail shops, bakeries, restaurants, roadside produce stands, and tea stalls. Sole proprietorship is the most popular form of business ownership due to the ease of starting and dissolving the business, the control the sole owner maintains, participation in all profits and losses, use of the owner's abilities, tax breaks, and secrecy. In conclusion, sole proprietorship is well-suited for individuals with little capital, some experience, and self-confidence who want to become self-employed.
Forms of business organisations
The document discusses different forms of business organizations including sole proprietorship, joint hindu family business, partnership, and companies. It provides characteristics and details about each type of organization. Specifically, it notes that sole proprietorship is the simplest form owned by one individual, partnership involves two or more individuals sharing profits, and companies have limited liability and are separate legal entities from their owners.
Different Forms of Business Organisations
Several forms of Business Organisations and their functionality, advantages & disadvantages.
Namely Sole Proprietorship, Partnership, Corporations and LLC.
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This presentation is about various Forms of Business Organisations and their features, merits and demerits. It also guides an entrepreuner on how to make a choice among various forms of Business Organisations.
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This Advertising Module is designed to provide basic understanding of advertising. The text for the presentation is based on the book by Ferrell & Pride (2000) "Marketing".
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This document discusses the relationships between manufacturers, distributors, and dealers. It defines each role and outlines some issues that can arise, such as manufacturers bypassing dealers or overloading dealers with product. It emphasizes the importance of cooperation and partnership between these groups. Finally, it provides objectives for distributor-dealer relationships, including understanding dealer problems, providing sales support, resolving complaints, and stimulating loyalty.
Formsofbusinessorganisations 131010063541-phpapp02
The document discusses different forms of business organizations and their characteristics. It describes sole proprietorships, partnerships, joint Hindu family businesses, private and public limited companies, and cooperative societies. It covers aspects like ownership, control, liability, capital raising ability, and taxation. The ideal characteristics of a business form are also mentioned. The document emphasizes that the choice of a business form depends on factors like the nature of business, scale of operations, capital required, and degree of control and risk desired.
Partnerships
A partnership consists of 2 to 20 co-owners engaged in business to make a profit. Partnerships are governed by partnership agreements that describe how profits and losses are shared, typically equally. The business must register with the local Companies Office and provide information about the partners and business. There are different types of partners with varying levels of involvement and liability. Partnerships allow for more capital than sole proprietorships and workload sharing but also carry risks of unlimited liability and potential disputes between partners.
Forms of business organization
This document discusses different forms of business organization including sole proprietorship, partnership, Hindu undivided family business, cooperative firms, and joint stock companies.
For each form of business, the document outlines key features, merits, demerits, and types. Sole proprietorship is owned and controlled by one individual who has unlimited liability. A partnership has two or more members who share profits and risks. A Hindu undivided family business is controlled by the male head of the family. A cooperative firm is formed for the economic interests of its members. A joint stock company has a separate legal identity and shareholders have limited liability.
The document provides an overview of the different forms of business organization commonly seen in
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This document discusses different forms of business ownership including sole proprietorships, partnerships, and corporations. It outlines the key characteristics of each: sole proprietorships are owned by one person and are the simplest to start; partnerships involve two or more co-owners; corporations are legal entities separate from their owners. The document also covers forming a corporation including incorporating, issuing stock, establishing a board of directors and officers, and different types of corporate growth through mergers and acquisitions.
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The document discusses the major forms of business organization including sole proprietorships, partnerships, corporations, franchises, cooperatives, non-profit organizations, labor unions, professional organizations, business organizations, and government. Sole proprietorships are owned by one person while partnerships are owned by a small group of partners. Corporations are owned by shareholders and have an unlimited life. Franchises involve a contract granting permission to sell another company's products.
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This document provides an introduction to different forms of business organization. It discusses sole proprietorships, partnerships, and joint stock companies. For sole proprietorships, it notes they are owned and managed by one person who is responsible for all profits and losses. Partnerships involve two or more people who agree to share profits from a business carried out together. They allow for pooling of funds and skills but management can be difficult if partners disagree. The document also provides advantages and disadvantages of sole proprietorships and partnerships.
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This document summarizes the key aspects of setting up and operating a trading subsidiary for a charity. It defines a trading subsidiary as a company limited by shares that is owned by a charity and carries out trading activities to generate profits for the charity. The document outlines the different types of trading a charity can conduct and when a trading subsidiary would be required over direct trading. It provides guidance on establishing a trading subsidiary, including naming, funding, governance, and addressing financial difficulties. The overall message is that trustees must act in the best interests of the charity and seek advice when needed.
3 business structures
The document provides an overview of different business structures including sole trader, partnership, limited company, franchise, company limited by guarantee, and community interest company. It discusses the key advantages and disadvantages of each structure. It also covers types of business insurance, why it's important to have a separate business bank account, and the need to track business expenses and income.
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5. Marketing and Promotion in The UK Entertainment Industry
The document discusses marketing strategies in the UK entertainment industry. It covers film promotion techniques like trailers, television and radio ads, internet marketing, print ads, and promotional tours. It highlights the importance of television advertising due to its ability to reach most of the population, its popularity compared to other media, and its effectiveness in boosting campaign results. Snapchat is discussed as an effective platform for reaching millennials through temporary content. Netflix's social media strategies are outlined, including using humor and engaging with fans. The importance of strong branding is also summarized using Merlin Entertainment as an example.
Bullet point three: Trends in this entertainment market
This document discusses trends in the entertainment market over the last 20 years, specifically looking at changes in supply and demand, investment, technology, and business growth. The entertainment market has seen shifts in these areas, with new technologies enabling growth and changes in consumer behavior impacting supply and demand. Overall, the market has experienced significant changes driven by new technologies and evolving customer preferences.
Bullet Point 1: Types of entertainment.
The document summarizes different types of live and non-live entertainment in the UK. It discusses how the live entertainment sector hit a record £17 billion in revenues in 2017 and was predicted to grow by another £400 million in 2018. It also outlines various live entertainment events like concerts, musicals, and sports and describes how the non-live entertainment sector includes movies, music and video streaming, television, video games, and over-the-top video. Revenues from these non-live sectors like music streaming, video games, and over-the-top video are also rapidly growing.
Bullet Point 6. Financing the UK Entertainment Industry
The document discusses sources of funding for the UK entertainment industry. The leading agency is the BFI, which utilizes funding from the National Lottery to invest over £26 million per year in developing and distributing British films. Other sources of funding mentioned include the BBC Films, Film4, and BFI Network. Government and EU funding have also supported the industry, with the UK receiving over £298 million from the EU in the past decade for cultural and creative projects.
Business Research Theme (Bullet Point 2)
Cinema chains cut costs by employing staff on zero-hour contracts without guaranteed work. Younger, non-unionized staff may earn lower wages. Major cinema chains in the UK include Odeon, Cineworld, and Vue. Films are supplied to cinemas via encrypted hard drives or digital download and must be processed before screening. Ticketing agencies emerged to handle ticket sales and distribution for venues and have brought technology and expertise. Pop-up cinemas show films in temporary outdoor locations using mobile screens in the summer months.
Bullet point 1
Over the last 10 years, UK consumer trends have seen increases in staycations, activity holidays, and glamping. Staycations have become more popular due to their lower costs and stress compared to international travel. Brits also opt for activity holidays that allow them to experience new destinations and physical activities in an effort to improve mental wellbeing. Glamping combines the benefits of being outdoors with more luxurious facilities than traditional camping. City breaks have also grown in popularity due to inexpensive flight and package deals.
The meaning of culture
Culture refers to the learned behaviors, beliefs, values, and symbols that are shared by a group of people. It is transmitted from one generation to the next through enculturation as children learn the behaviors, customs, and social norms of their surrounding culture. Culture is all-encompassing, touching every aspect of people's lives from what and how they eat to sexual activities. It exists at various levels from national cultures shared by citizens of a nation to subcultures practiced by smaller groups within a larger culture. In the modern world, globalization is causing cultures to increasingly interact and influence each other through trade, communication, and travel.
Bullet point 1
Over the last 10 years, UK consumer holiday trends have shifted towards more domestic "staycation" holidays rather than international travel, due to factors like unfavorable exchange rates and less disposable income. Brits are also taking more "activity holidays" that involve organized activities, as well as "glamping" which offers luxurious camping facilities. City breaks have also become increasingly popular short holiday options.
A2 Staycations
This document discusses UK staycations and consumer trends over the last 10 years. It defines a staycation as a holiday within one's own country, and notes that UK staycations have increased in popularity since 2000 due to factors like the weak British pound from Brexit, consumers seeking value and flexibility, and an aging population. Popular UK staycation destinations mentioned include Cornwall, Devon, the Peak District, and Scotland. The document also covers different types of UK tourist attractions such as built, natural, and leisure attractions.
4.2.5 Global-Competitiveness
- Following the Brexit vote, the value of the pound fell sharply against other major currencies like the dollar and euro. The pound dropped over 1% against these currencies, falling to a three-year and six-and-a-half-year low respectively.
- While the falling pound hurt the UK currency, it boosted the FTSE 100 as export-focused companies benefited from the relatively cheaper cost of British goods. However, uncertainties over future trade deals and economic growth after Brexit negatively impacted the pound.
- The document discusses how the Brexit-induced slump in the British pound affected currency and stock markets in the UK and issues of global competitiveness for British companies going forward.
Trends.developments
The document summarizes trends in the UK holiday industry. It finds that staycations within the UK have increased, likely due to the weakened pound from Brexit making foreign travel less valuable. Activity holidays have grown significantly, now making up 40% of bookings compared to just 20% in 2013. Glamping, or glamorous camping, has expanded and now offers year-round accommodations to meet demand. City breaks remain a popular short holiday choice.
Activity holidays
Over the last 10 years, UK consumer trends in activity holidays have significantly changed. Once consisting only of gentle activities like walking, the market has expanded to include more extreme options such as cliff camping. There has also been a rise in solo travel and a demand for wellness-focused holidays at destinations offering health checks and spa treatments. Younger travelers expect share-worthy experiences on social media, while older consumers seek adventure and comfort. Various activity holidays now teach skills like cooking and languages to attract customers seeking personal growth.
Package holiday trends
The package holiday market in the UK has experienced resurgence despite challenges to consumer confidence from events like terrorist attacks. Terrorism can swiftly impact tourism to destinations like Tunisia and Turkey, where visitor numbers dropped 25% and 10% respectively after attacks. However, the travel and tourism sector is resilient overall as travelers tend to change destinations temporarily but continue traveling. Package holidays provide consumers with certainty of arrangements being taken care of and value from tour operator discounts, making them appealing especially for younger and older age groups and families seeking reassurance during uncertain economic and political times.
Ruben uk holiday business environment
The travel agency industry in the UK provides booking, reservation, and travel information services to both domestic and international travelers. High street travel agencies now face significant competition from online travel agencies, which generate over half of the industry's total revenue. While TUI currently leads the package holiday market with 50% share, Thomas Cook plans to remain a strong competitor despite recent profit declines. Barriers to entry into the travel agency industry are relatively low, as most services can be provided online without the costs of a high street presence.
Hayley bullet point 2
The document discusses how a rise in income has led more people to go on holidays. It notes several factors contributing to this trend, such as increased disposable income, more paid vacation time, and greater availability of affordable flights and accommodation options. Overall, economic growth has enhanced people's ability and propensity to travel for leisure.
Uk consumer trends over the last 10 years (1)
Beach holidays were the most popular type of last holiday abroad in July 2012 as they are easy to organize and accessible to many consumers, while spa/health breaks were the least popular due to being more expensive and targeted towards specific groups. Within the UK, cheap holidays were most popular compared to luxury and ski holidays. The popularity of different holiday types does not fluctuate greatly year-to-year but depends on the month likely due to school holidays, while luxury holiday bookings are less dependent on time of year possibly because luxury travelers typically do not have children.
Major businesses and niche operators in the holiday
This document summarizes key players in the UK holiday market, including budget airlines, tour operators, travel agents, and brokers/flight consolidators. It provides examples of major budget airlines like Ryanair and Wizzair, and notes that over half of UK airport passengers in 2013 flew with budget carriers. Tour operators purchase and assemble travel services into packages for consumers, while travel agents traditionally sell pre-packaged or customized holidays. Brokers and flight consolidators buy large volumes of accommodations or flights from suppliers to resell in smaller quantities to tour operators.
4 ass 4 guidance p3 + p4
This document provides instructions for parts 3 and 4 of an assignment. For part 3, the instructions are to create an information sheet on a topic, explain the strategic planning process, define key organizational structure terms, explain the structure of RUTC referring to the definitions, and explain another organizational structure covering the same definitions. For part 4, the instructions are to explain the purpose, mission, aims, and objectives of both RUTC and another organization, discuss the advantages of each organization's structure, and conclude by relating how the advantages could help achieve objectives.
Heathrow case study
The document discusses a proposal to build a third runway at Heathrow Airport in London. Heathrow is currently the busiest airport in the UK, serving over 73 million passengers per year. The airport owners want to build a third runway to increase capacity further. However, the expansion proposal is controversial and faces opposition from local residents, environmental activists, and others concerned about issues like increased noise and air pollution, destruction of homes, and the environmental impact of expanded air travel. The document examines different perspectives on the proposal and ways that various groups could campaign for or against the third runway development at Heathrow.
Glocalisation of-mc donalds
McDonald's entered the Indian market in 1996 and has since adapted its menu to local tastes and customs by avoiding beef and offering popular local foods like aloo tikki patties, veggie patties, and chicken patties topped with local spices. McDonald's strategy of "glocalization" involves listening to local consumers and customizing the business model for each market by offering locally inspired menu items. Examples of this include kebab burgers in Turkey, lobster rolls in Canada, falafel in Israel, and gazpacho soup in Spain.
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5. Marketing and Promotion in The UK Entertainment Industry
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Bullet point three: Trends in this entertainment market
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Bullet Point 6. Financing the UK Entertainment Industry
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Legal forms of business 2015
- 1. Legal forms of businessLegal forms of business
- 2. Types of businesses • Sole Trader • Partnerships • Private Limited Company (LTD) • Public Limited Company (PLC) • Co-operatives • Franchises
- 3. Sole Trader • An individual which trades under his/her own name • Is totally independent • Makes all the important decisions • Responsible for paying all of the debts • Few formalities in setting up • Can employ as many people as he/she wishes
- 4. Advantages of a Sole Trader • Decisions can be made quickly • Leads to greater interest & more dedicated & hard working owner • Profits are kept by the sole trader • Paperwork is minimal • Easy to start trading as the sole trader
- 5. Disadvantages of a Sole Trader • Personally liable for all debts that it occurs (unlimited liability) • Less capital available for expansion • Taxed at a higher rate than a private company • May have difficulty in managing all business functions • When the sole trader dies so does the business • Raising capital could be difficult for one person
- 6. Examples of Sole Traders • Corner shop • Coffee shop • Carpenters
- 7. Partnerships • Can have between 2 & 20 partners • A ‘deed of partnership’ can be used to set out the rights of the partners • Aim to make a profit
- 8. Examples of partnerships • Doctors • Accountants • Solicitors
- 9. Advantages of a partnership • More capital is available than for the sole trader • Better use of business expertise because each partner can concentrate on what they are good at
- 10. Disadvantages of Partnerships • Group decision making may cause conflict between partners • Like sole traders, partners have unlimited liability so they are liable for all the debts of the business • Decision making can be slower which can lead to inflexibility • Profits must be shared
- 11. Your task • Why is it important that a business has a deed of partnership?
- 12. Key terms Unlimited liability The owners are personally responsible for paying debts if the business goes bankrupt Limited liability If the company goes into liquidation, the shareholders of the company are not responsible for paying the debts of the business
- 13. Private Limited Company (ltd) • A company that is a legal entity in its own right • It can be sued and can sue • Shareholders own the business • A group of people who buy the shares are called the shareholders • Cannot sell shares to the public
- 14. Public Limited Company • Can sell their shares to members of the public through the stock exchange • No maximum limit of shareholders • Must issue a prospective detailing the history of the company & inviting the public to buy shares
- 15. Public Limited Company • Shares are bought & sold on the stock exchange • Accounts must be published and audited on an annual basis • An annual report must also be compiled each year
- 16. Advantages of a public limited company • Limited liability • Easier than private limited company to raise capital • They can attract top management because of their public image • Continuity of existence if a shareholder dies
- 17. Disadvantages of a public limited company • High formation costs • Accounts have to be published • Profits must be distributed to shareholders • Ownership & control are separated because although the shareholders own the company the Board of Directors make the decisions
- 18. Key Terms Shares • These are long term sources of finance • Sold to people who become shareholders of the company • A plc is able to advertise its shares for sale to the general public • A private limited company must sell their shares privately Shareholders • These are people who own part of the Business
- 19. Sources of finance • Internal sources of finance • External sources of finance
- 20. Internal sources of finance • Retained profits • Stock reduction • Assets sale • Limiting credit to customers
- 21. External sources of finance • Owners capital • Hire purchase and leasing • Overdrafts and loans • Grants
- 22. What is a franchise? • Involves paying a fee & agreeing to produce goods exactly in accordance with the franchise company’s policy • Payments (royalties) are made on a regular basis depending on profits made • Training & supervision are provided
- 23. Your task • Create a newspaper advert selling a franchise • Example: A large McDonald’s restaurant for sale as a going concern to suitable franchisee Excellent trading figures, full training provided. Price £375,000
- 24. The public sector • The public sector includes everything that is owned by the government • Examples-army, police force, schools & hospitals • Public means that they are owned by the government for the benefit of the people who run them
- 25. The private sector • The private sector contains all the businesses owned by private individuals • Almost all the businesses you can think of are in the private sector • Private means that these businesses are run for the benefit of the people who own them – usually for profit
- 26. Strengths of the free market private sector • Employers & employees can create their own personal wealth through the profit motive & hard work • A greater range of products are supplied • People have greater freedom to choose & but what they want • Competition helps keep prices down & encourages new ideas
- 27. Strengths of the planned public sector • Public services do not depend on the profit motive & will be supplied even at a loss • The provision of basic services available to all regardless of people’s ability to pay them