Business Btec

Business Btec

Unit 3b

Definition of these phrases.

• Sole trader
Means someone who is self employed, they are the sole owner of there business that is neither a partnership nor a company.
• Partnership
A group of 2 or more companies working together to better there productivity and money earning. And help each other out.
• Private limited company.
A firm ho has limited stock holders and these stock holders can only sell to other stock holders first before trying to sell there stocks elsewhere. Plc’s have to have a fixed number of share holders usually 50
• Public limited company
In this case a plc has many more share holders and they can sell there shares to anyone also a plc has to produce there true financial position so that people buying shares can find out there true worth.
• Franchise
Government conferred right to exist as a legal business within a particular influence and to exercise company powers.
• Government department or agency.
A group of people that sets and administers public policy, and exercises executive, political and sovereign power through the customs, institutions and laws within a state.
• Charity
A company that sells things given to them to other people and takes no profit ad gives different organisations to help people and plants etc,

Unlimited liability
Limited liability

Bristol blue glass is a public limited company and Argos is a partnership, as it is partnered with home base.

|Local business |A business that serves a local market |Tollgate tea shop |
| |e.g. Brislington | |
|National business |A business which operates around a whole |Boots |
| |country, these are usually medium sized |...

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