Understanding Different Types of Companies and Business Structures

BUSINESS IN PRACTICE

Table of Contents
INTRODUCTION.......................................................................................................................................3
SECTION-1 understanding of the different types of companies and how they work..................................3
SECTION-2 explain different companies....................................................................................................4
SECTION-3 different business structures and how external factors affect businesses................................6
Identify different Organisational structures and explain how Organisational structure affects business
productivity.............................................................................................................................................6
PESTLE analysis explain how different external factors affect the performance of a business................8
CONCLUSION...........................................................................................................................................9
REFERENCES..........................................................................................................................................10

INTRODUCTION
The present report is based on the topic business in practice. The topic will discuss about the
understanding of different types of companies that are related to micro, small, medium size, large
size, soul trader business, partnership, limited liability business, public limited business and
corporative business. It will also evaluate about the different types of organizational structure by
explaining how organizational structure affects business productivity. Lastly it will also discuss
about the Pestle analysis and how different external factors affect the performance of the
business.
SECTION-1 understanding of the different types of companies and how they work
MICRO BUSINESS
It is the Type of small business which has less than 10 people in their organization. It is also the
type of small business that is operated on very small scale that include owner an number of
employees at 6 which have less than dollar 250 Lac annual sales And required less than dollar
50,000 to start microbusiness.
EXAMPLES: The micro businesses of the UK are Manton Cards, The Willoughby Book Club,
Castle Hill Fire Protection Ltd and Beauty Boulevard (Agwu, 2018)
SMALL BUSINESS
They are the type of the business that has less than 50 employees in the organization which
perform those activities that are related to the coffee and event houses. They along take all the
risk, focused on achieving the goals and Ability to Separate Work and Family Life
EXAMPLES: the small size business of the UK is Café Pod Coffee Co, Marshfield Bakery,
Broadsword Event House and Imaginera
MEDIUM SIZE BUSINESS