There are at least six different types of business you could choose to start: 1. Sole trader – the oldest form of trading there is‚ it’s also the simplest and the most common type of business you’ll find. The clue is in the name – meaning that you are solely responsible for everything the business does and you’re often known as the proprietor. This is the usual form for small shops and businesses that provide services such as beauticians‚ hairdressers‚ photographers‚ gardeners and so on. When
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Nature of Business Letters A letter is a written message sent to an individual or a group of people (Green and Ripley‚ 1998). It may either be a business letter or a social letter. business letter Is used to transact business. Its tone and style should be formal and business like. SOCIAL LETTER Is a friendly letter intended to convey personal messages to the people close to the writer. AIMS OF BUSINESS LETTERS Essentially speaking‚ all business letters are classified as sales letters because
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Business Types of Ownership Before starting any venture it is very important to figure out how the organization is going to build its chain of command. Basically no business is made for short time and for this reason a very careful measurement should be done on ownership. Choosing the appropriate ownership in an organisation depends on nature of business‚ type of authority‚ delegation of work‚ span of organization‚ type of product‚ production and operation‚ legal procedure‚ financial matters and
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The sole proprietorship is the simplest form of business organization. A sole proprietorship is a business that is owned by an individual who is solely responsible for all aspects of the business. The owner is personally responsible for all debts of the business‚ even in excess of the amount invested. The business and its owner are thus considered the same entity. The advantages of a sole proprietorship include: a. Low start up costs‚ as legal and filing fees are at a minimum. However‚ many
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services or undertake a new business endeavor. The purpose of a feasibility study is to determine if a business opportunity is possible‚ practical and viable. When faced with a business opportunity‚ many optimistic people tend to focus on just the positive aspects. A feasibility study enables a realistic view at both the positive and negative aspects of the opportunity. A feasibility study is an important tool for making the right decisions. A wrong decision often leads to business failure. For example
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governed by special laws. A proprietorship is a type of business entity which legally has no separate existence from its owner. Hence‚ the limitations of liability enjoyed by a corporation and limited liability partnerships do not apply to sole proprietors. All debts of the business are debts of the owner. The single proprietor has unlimited liability since creditors of his business may proceed not only against the assets and properties of his business but also after his own personal assets and properties
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Business Writing Portfolio Business Writing Portfolio Part I: Business Writing Steps [pic] Part II: Portfolio 9/6/2010 The Retail Store 123 Any St. Anywhere‚ TX 76013 Dear The Retail Store Mangement Team The board of directors for The Retail Store has determined that scaling back the hours of our retail operations. Beginning next month‚ all stores will be closed on Sundays‚ and will open one hour later and close one hour earlier Monday through Saturday. All
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"Though writing business letters was never an easy task‚ business letters are genuinely meaningful in various ways." The Value of Business Letters as related to: The Principle of Effective Communication It is indeed true that effective communication and writing skills are very significant in our daily lives. In reality‚ people will judge us by how well we communicate‚ either by speaking or writing. A business letter needs to be easily understood by its recipient. Therefore‚ one must write effectively
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*Letter of Inquiry: The letter of inquiry is written to inquire about a product or service. If you have ordered a product and yet not received it then you can write a letter to inquire when you will be receiving it. Bob Smith 2151 Columbus Road Poplar‚ MI 23783 April 5‚ 2005 Harper Est. 64 Small Street New York‚ NY 64641 Dear Sir‚ With reference to your advertisement in the Silver Globe dated April 3‚ 2005‚ I would like to have a copy your latest catalogue. I would
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U.S. Small Business Administration MP-32 HOW TO WRITE A BUSINESS PLAN Managing and Planning Series ______________________________________________________________________________ Copyright 1993‚ Linda Pinson and Jerry Jinnett. All rights reserved. No part may be reproduced‚ transmitted or transcribed without the permission of the authors. SBA retains an irrevocable‚ worldwide‚ nonexclusive‚ royalty-free‚ unlimited license to use this copyrighted material. While we consider the contents of
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