Unit 1 - P1 Business level 3
Pages: 3 (637 words) /
Published: Mar 21st, 2014
There are several different types of business ownership which are most commonly used in business’ and company’s today, these include; Co-operative which is a business owned by its employees, Partnership which is a business owned by between 2 and 20 people, Private limited which is a business owner by a small groups of people who have shares and a Public limited business is owned by private individuals by shares bought and sold on the stock market. A charity is a business with the purpose to help the public, the government is a business owned by the government and lastly a sole trader which is a business owned by only one person.
The ownership of Tesco’s is a Public Limited Company where the shareholders are protected by limited liability. This means if the company went into liquidation the individual would only loose what they had paid for in shares and they would not be liable for any of Tesco's debts. The ownership of the Dartford Borough Council is public owned they make the decisions towards maintaining their area, moreover the council is funded by the people of Dartford when they pay their tax.
Different businesses have a different purpose, it could be; to help others/the environment, sell products, make a profit, or even personal ambitions. Tesco has become a large company continuously satisfying the public by selling their products to the local public which they will need for their daily lifestyle making a staggering £105 profit a second! The purpose of the Dartford Borough Council is to maintain the Dartford area and to help keep Dartford to its standards money used to help the area will be from the public taxes.
Primary production is acquiring raw materials. For example, metals and coal have to be mined, oil drilled from the ground, rubber tapped from trees, foodstuffs farmed and fish trawled. This is sometimes known as extractive production. Secondary production is the manufacturing and assembly process. It