Study Room - Business - Objectives and Strategy

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Objectives And Strategy

	Stakeholders
	Entrepreneurs
	Legal Structure

Legal Structure

	Business Organisations in the Private Sector

	Business Organisations & Incoporation

	Sole Trader

	Partnership

	Limited Liability Companies

	Private Limited Companies (Ltd)

	Public Limited Companies (Plc)

Links

	Companies House

	Institute of Directors

	London Stock Exchange

	British Airways

	Associated British Foods plc

Profiles

	Business in Britain - analysis by size of firm Jan 2002 Survey

	Corporate Social Responsibility Europe - The role and structure of CSR Europe

	Business in Britain - analysis by size of firm

	British Airways plc - History

	Amnesty International - the work og the Business Group

Exam Hall

Multiple Choice
	Legal Structure Test
Exam Questions
	AVCE, OCR, Spec 2000

	AS, Edexcel, Spec 2000

	AVCE, OCR, Spec 2000

	AS, AQA, Unit 3, Jan 2006

	AVCE, Edexcel, Spec 2000

Business Organisations in the Private Sector

A key consideration when starting up a business in the UK, will be what legal form should the business take. Each legal form of business will have its own unique advantages and disadvantages, and in this article we will consider the main characteristics of each legal business form, and the associated advantages and disadvantages of such businesses. Figure 1, provides an overview of the main legal forms a private sector business can take.

Figure 1 : Legal Structures in the Private Sector

As you can see the first decision to be made, is whether to create an incorporated or unincorporated business, and this question will be considered in the next section of this article.

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