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TYPES OF BUSINESS ORGANISATION - Coggle Diagram
TYPES OF BUSINESS ORGANISATION
SOLE TRADER
Unincorporated (unlimited liability)
Simple to start, owner keeps all profit
Owned and run by one person
SOCIAL ENTERPRISE
NOT FOR PROFIT ENTERPRISES
organizations generate their own income and are focused on improving social conditions
Charities
raise money through fundraising and donations to provide quick solutions to adversity.
CO-OPERATIVE
Owned and managed by users/workers (democratic)
Types; Consumer, Producer, Worker
Usually limited liability, shared common interest
PARTNERSHIP
Owned by 2 or more people
Unincorporated (unlimited liability)
Shared workload/ desicion making
FRANCHISE
Right to use franchisor's brand/ product
franchise pays licenses fee / revenue percentages
LIMITED COMPANY (INCORPORATED)
Public Limited Company (shares owned by public/ organisation)
Private Limited Company (shares held by friends/ family
Characteristic
Easier to raise finances (sell shares)
Seperate legal entity from owners (limited liability)