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More Business Structure

More Business Structure. Aims. To ensure you all understand the key issues involved in business legal structure To understand the importance of liability To understand the benefits/drawback of each legal structure. Recap last lesson. What is a sole trader? What is a ‘partnership’

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More Business Structure

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  1. More Business Structure

  2. Aims • To ensure you all understand the key issues involved in business legal structure • To understand the importance of liability • To understand the benefits/drawback of each legal structure

  3. Recap last lesson • What is a sole trader? • What is a ‘partnership’ • What does Ltd stand for? • What does Plc stand for? • What’s the main difference between Ltd & Plc?

  4. Look at your cards… • Find others with the same ‘card’ as you…. • Sole trader into one corner of the room • Partnerships into one corner of the room • Ltd’s into one corner of the room • Plc’s into one corner of the room You are all ‘owners’ of your business. How many ‘owners’ are there for each group?

  5. Some questions for you to decide on… • Here’s some profit for you to share out….. • What’s your share of the profits? • You will need to ‘cut up’ your money to equally share out between business members…. • Who has the ‘most’ profit? • Which group has the least profit? • Which group finished the work 1st? Why…. Is this a problem for some businesses? To what extent does this matter?

  6. Finance…. • Which business/company… • Would find it the easiest to raise new funds? • Would have had the most ‘start up capital’? • If a business was to fail…who would have the largest debt to deal with?

  7. Liability….. • What is the difference between limited & unlimited liability? • Why is it important for a business to have liability protection?

  8. Continue with your notes on worksheet 15 mins max – rest to finish for HWK

  9. Your quick task Individual Work

  10. Complete the worksheet….

  11. Answers to worksheet

  12. Alliance & Leicester Bosch BSKYB Cadbury Carphone Warehouse Chanel, Diesel Ferrero Haribo, GlaxoSmithKline HSBC IKEA Kingfisher Lego Lidl Marks & Spencer Morrisons Prada Red Bull Reuters Rolls Royce San Miguel Swarovski Thomas Cook Whitbread Ltd or Plc? Sort your cards out into 2 columns - do you know which companies can trade on the FTSE 100?

  13. Alliance & Leicester Carphone Warehouse GlaxoSmithKline HSBC Kingfisher Thomas Cook BSKYB Cadbury Morrisons Marks & Spencer Rolls Royce Reuters Whitbread Ferrero Haribo, Swarovski Chanel, Diesel Bosch IKEA Lidl Lego Red Bull Prada San Miguel Ltd or Plc – the answers….

  14. Homework…. • Finish notes on different business legal structure.

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