Part A Sole Proprietorship Sole proprietorships make up the majority of small businesses and are the most common but can also include multi-million dollar businesses as well. When an individual person decides to conduct business they form a sole proprietorship. The type of business can be a small mom and pop stores, an individual who sells goods on eBay or an individual that runs a multi-million dollar auto body shop company. Some sole proprietors obtain business licenses and others who might make hair clips to sell them to friends and family might not. If they operate under a factious business name or sell goods or services requiring a license then the business files for licensing according to the nature of the business.
National business is a business which is located in the whole country. These types of business normally franchise this is means the governments allows the owner to sells their product or service. International business is a business which is located in more the one country. An example of this would be Tesco or McDonald’s because they’re both located in different countries such as America and England. Size and Scope of Business Small size and scope businesses are normally privately owned or sole traders this is because they have a small amount of employees which means they can’t afford to have more in a small shop.
Legal Forms of Business Law/531 March 26, 2012 Judith C. Haggerty, J.D./ Esquire Legal Forms of Business The “American Dream” is composed of several elements. The elements will vary from individual to individual. Usually, the elements are own a piece of land, financial security and become a successful business owner. In order to complete the American dream it will be important to understand the various types of business structures that exist. Not every type of business will be ran the same, and depending on the type of business the individual is planning to open will also have an impact as to allowing partners, sole proprietorship, S corporation, franchise, and corporate form.
Some of the agents provide only business travel whilst others provide both business and leisure to clients. Business travel connections are an independent business travel agency which has been in business for 24 years and they offer a wide range of business travel services. | Independent agencies products and services: | Independent travel agency offer a very flexible service and they try to meet each individual’s requirements and needs. They offer a much personalised service to their clients and rely on word-of mouth advertising. They offer their clients cost saving solutions to overseas flights as well as time and money as they offer a choice of best value flight fares and routings suited to the client’s itinerary.
Firm overview and Introduction to the Case The main player is Joel St. Marseille who is the founder and owner of Skadurz Pro. Skadurz Pro is a a custom skateboard, snowboard and clothing store. Skardurz currently faces the following issues; • Increase in local competition is reducing the advantage that Skadurz Pro had over it's online competition. • Retirement of key employee leaves a void not easily replaced because management is limited to family members. • The prices are not as low as competitors because its a small, local business with less volume.
The University of Notre Dame Australia [pic] LW321 CORPORATIONS AND PARTNERSHIPS BS340 COMPANY LAW LECTURE NO. 6 SEMESTER 2, 2013 THURSDAY 5 SEPTEMBER 2013 CORPORATE FUNDRAISING LECTURER: PROFESSOR GERARD RYAN NOTE TO STUDENTS: In this lecture we will consider the two main sources of finance for companies, namely ‘equity’ (or share) finance and debt finance. We will also consider the differences between raising capital privately and by seeking invitations from the public. The fundraising provisions of the Corporations Act generally seek
When partners can't get along and suffer from disagreements the business suffers. This can contribute to the businesses inability to stay together as a cohesive organization. Control of the business is in the hands of each of the partners and percentage of control is stated in the contract agreement at the start of the business. All partners have equal voting right regardless of how much money the contributed to the business. Partnerships, like sole proprietorships, can do business in other states
They influence and impact the business because the business may need money for it to keep running. The owners/shareholders provide the money that may be needed. The capital that is provided by the shareholders will pay for everything to keep the business up and running, this means that they will be paying for the costs to start up the business. This may include the salaries of the cleaners, the employees, the rent of the shop, the electric and utility bills Etc. They should be kept well informed of the financial state of the organisation, so as to encourage them to keep investing in the company.
Their ownership allows them to have a legitimate claim over many company matters. Shareholders have power to make changes in the company due to their ownership. Shareholders have urgency because the company must answer their inquiries and demands immediately. Responsibility: Darden Restaurants has ethical, legal and economic responsibilities to its shareholders. Shareholders have an ethical duty to step in and make demands if the company is acting unethically.
And Ben Wu says “So I want to learn how Chinese conduct business, what's the best opportunity in what industry” (Young and Restless in China). At surface value it looks as if these interviews show that these people did what they wanted and it had nothing to do with their family. But looking further it is clear that they chose these careers in order to form or maintain a family environment. When Wang, for example, sent all the money he had to a woman he met online he was trying to form a family environment. Similarly Ben Wu left his family in America to pursue his internet cafe idea, seeming to choose business over family but Ben then says that he hopes “she will stay here with me finally and we will have a family here” (Young and Restless in China).