Investigating Business - Ownership

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Recommended: General business assignment on business ownership

Investigating Business - Ownership

Investigating Business Unit One Task One:

Ownership

Introduction

I have chosen to base my assignment on the following businesses:

Sole-Trader for which I have chosen Errol Anderson’s business: Errol

Anderson

Motors

PLC for which I have chosen Sainsbury’s

I have chosen these businesses because a Sole-Trader and a PLC make a

good comparison and therefore I have chosen a sole-Trader and a PLC.

I have chosen Sainsbury’s as my PLC because firstly my teacher

recommended this PLC to me. Another reason for choosing this PLC is

that it is one of the UK’s successful businesses and also is a well

known business in the UK. I am also a regular customer of Sainsbury’s

and there for it is easier for me to talk about the services they

provide their customers with. The website of this PLC also is very

useful because it provides us with a Student Section in which the

website allows us to look at the company’s history, company

information and also it provides us with a Media Centre detail.

Sainsbury’s has many articles in local newspapers and reports on

television. It is a very popular business in the form of a PLC and

therefore I have Chosen this business.

I have chosen Errol Anderson, as my Sole-Trader because my teacher

recommended me to do this Sole-Trader if I didn’t know a LTD, a

Sole-Trader or someone in Partnership business. Errol Anderson is

Sole-Trader who set up his own garage and called it Errol Anderson

Motors. Another reason for me choosing Errol is that I didn’t have any

friends or family member who were able supply me with information on

either a Sole-Trader, a Partnership business or a LTD business so

therefore I have chosen Errol Anderson and his business Errol Anderson

Motors to base my assignment on.

Sole-Trader

A Sole-Trader is someone like Errol Anderson who has set up his own

business. Errol’s business is called and is known as Errol Anderson

Motors. Sole-Trader is someone who does a one-person business

according to my assignment that one businessman is Errol. This is the

simplest form of ownership in which the owner in this case who is

Errol is fully controller of his business. Errol makes all decisions

because he is the owner and has to spend a small amount of Capital to

set up business such as a Sole-Trader. The financial information is

private and t...

... middle of paper ...

...PLC and Sole-Trader is

that shareholders selling their shares can damage a PLC. But the

Sole-Trader can also be damaged if it is on unlimited liability that

can force them to sell their personal belongings.

Decision-making

The differences between the decision making in a PLC and a Sole-Trader

is that a Sole-Trader like Errol does one-person business so therefore

the Sole-Trader (Errol) makes his decisions himself and is in control

of the business. So therefore a Sole-Trader like Errol decides for

himself.

The decision making of a PLC is made by the Boards of Directors. The

Board of Director are shareholders who are elected by other

shareholders to be the Board of Directors and have most of the power

in the PLC in which the shareholders form partnership and groups to

become Board of Directors.

Overall the differences between decisions making of a Sole-Trader and

a PLC is that a Sole-Trader is the owner of the business so they make

decisions. But the owners of a PLC are the shareholders and if a

shareholder or shareholders who own more than 50% of the company then

they are made the Board of Directors and they are the ones who make

the decision for a PLC.

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