Business Basics Revision Session
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Transcript of Business Basics Revision Session
![Page 1: Business Basics Revision Session](https://reader036.fdocuments.net/reader036/viewer/2022082915/5480c1e5b4795937578b476c/html5/thumbnails/1.jpg)
Tuesday, 12 January 2010Objectives
• Sit with someone who is on the other paper to you
• Mock results poor for some students• People struggling with the basics• School boy errors• 15 weeks to the exam
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BBC
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Library
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Subway
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Barclays Bank PLC
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Shep’s Sheep Shearing LTD
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ASDA PLC
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Debden Park High School
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Forest Independent School
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54321...
• 54321......• 5 – Types of business ownership• 4 – Objectives of a business• 3 – Reasons a business would want to grow• 2 – Reasons the EU helps a business• 1 – Economy of scale
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Types of business ownership
• ST – A sole trader is owned by one person. They have unlimited liability. An example of this would be Tracey’s Hairdresser.
• Partnership - A business owned by 2 to 20 people. They have unlimited liability unless they have LTD after their name. An example of a partnership would be the estate agent Bestow and Eves.
• LTD – A private limited company. They have limited liability. Shares are not openly traded. An example of this is Harrods LTD.
• PLC• Franchise• Coop
3 Marks.One for definition.One for extra infoOne for example
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The difference between a private business and a public business is that a public business is owned by the Govt. A private is owned by
specific people.
The difference between a PLC and a public sector business is when shareholders can buy shares in a business. Public sector is owned by the Govt. E.g..