Types of Companies: Micro, Small, Medium, and Large Size

BMP3002
Business in Practice
Assessment 1
Types of Companies
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Contents
INTRODUCTION....................................................................................................................2
SECTION 1:.............................................................................................................................2
SECTION 2:.............................................................................................................................3
SECTION 3:.............................................................................................................................4
CONCLUSION.........................................................................................................................7
REFERENCES.........................................................................................................................8
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INTRODUCTION
Company is body corporate or incorporate organizations which registered in
company’s act. This can be unlimited or limited firm, public or private. Company is legal
entity which is formed for the purpose of conducting business. This is related to a group of
people who have come together to conduct business and have their own legal existence,
eternal succession and common seal. In this report, Marks & Spencer organization will be
considering as it is specializing in offering the home products, food items and clothing. The
main focus of this organization is to provide the high quality of services to consumers so that
they can be satisfied (Anand and Mantovani, 2021). There will be discussion about various
kinds of the companies and how they are mainly work. Various firms from sole traders to
cooperatives as well as limited liability partnerships will be discussing in present report.
SECTION 1:
Micro business: These are small firm that employs nine or fewer members and has a
balance sheet or turnover of less than particular amount. For an example, Boss Brewing
Company is micro business and it changing the perception of the gender in beer sector, it is
woman led craft brewery from the South Wales.
Small business: Small companies are privately held companies, partnerships or sole
proprietorships with fewer workers or lower yearly income than larger company or firm. For
an example, CafePod Coffee Co. is small size business and it is producers of the exciting and
strong coffee foe e adventurous coffee drinks (Georgieva and Abdelazim, 2020).
Medium size business: They might be family-owned as well as controlled
companies but due to their scale, they might be complicated enterprises with management
and ownership divided. Medium-sized enterprises are often well-established as well as have
proven track record, making it easier for investors and lenders to make funding choices. For
an example, Giacom is medium size business and provides single platform for the IT
platforms in order to gain the access to broader range of the services (Rao, 2021).
Large size business: A organization which meets two of the following three criteria
like more than £25.9 million in annual revenue. Total of many more than £12.9 million is
shown on the balance sheet. More than 250 staff members on average. For an example,
Marks & Spencer is large size firm and it is specializing in selling the high quality of
clothing, food items and home products to customers.
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