Business Studies P1.... Essay

2715 WordsMay 16, 201311 Pages
Task 1 P1 Bert’s fish and chip shop is a local sole trader – as there is only one of “Bert’s fish and chips” in the local area - which is in the private sector. Bert’s fish and chips is a sole trader therefore is only owned by one person and is a small business which usually only has one store. The owner puts in their own money or loans to set up the business, which is easy to set up. The purpose of this company is to sell freshly cooked food to the public for as much profit as they can get, also they have a delivery service to deliver the food to your house, and therefore they are supplying a product and a service. The main implication of Bert’s fish and chips is it has unlimited liability which means if the company was to go into debt, the owner would consequently have to sell his personal assets in order to pay them off. Although the owner would have to put in his own money or loan to set up the business, all the profit made, after paying tax, would belong to him. MacMillans is in the voluntary sector and is a national charity, it is a private limited liability charity as they are large and employ people. A charity a voluntary organisation which gives aid to a person in the form of money or a service. The purpose of this business is to raise awareness of cancer and provide a service to help and support people who are suffering with cancer for no profit; they benefit the public and not just a selected people. An implication for this type of business is that it’s depending on donations from the public and other business in order to run this business. The organisation is also not allowed to support a political party, and must operate strictly within the limits set by the government. Task 2 P2 1. Describe how each of the stakeholders influence the businesses The stakeholders in each company are the people who can influence the business in any

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