How Businesses Operate

How Businesses Operate
TASK 1 and TASK 5

TASK 1

1.1. Types of organisations found in the
public and private sectors
The main types of business organisation within private sector of UK
are:
•Sole traders: It is own and operated by one natural person and in
which there is no legal distinction between owner and business entity.
•Partnerships: This is an arrangement where two or more person
parties agreed to manage and operate business.

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• Corporations: IT is a legal entity which is separated from its
owners. Corporations enjoyed rights and responsibilities, which are;
the right to enter into contracts, loan and borrow money, sue and be
sued, hire employees, pay taxes, etc.
• Franchise: It is an authority given by an organisation to an
individual or a group , allowing them to sell their goods or services.
The public sector enterprises within UK is responsible to conduct all
the Public activities within UK. This includes; Education and
medical care, Tourism Promotion. Collection of Tax and healthcare
within United Kingdom.