The Structure of Business

The Structure of Business

Contents
Introduction.................................................................................................................................................3
Main body...................................................................................................................................................3
Question: One..........................................................................................................................................3
Construct a table in order to show the legal status of business organisations which can be adopted by
them with respect to their strength and weaknesses.............................................................................3
Identify and evaluate the strength and weaknesses of sources of finance which can be used by the
business startup in the United Kingdom..............................................................................................6
Question: Two.........................................................................................................................................8
Three sectors within the United Kingdom economy in which business can operate............................8
Difference between primary secondary and tertiary sectors.................................................................9
Question: Three.....................................................................................................................................10
Identify the two which are policies and also explain their importance in the modern workplace......10
Conclusion.................................................................................................................................................11
References.................................................................................................................................................12

Introduction
Business is an enterprise where the entrepreneurs are engaged in order to conduct
commercial industrial or professional activities. These kinds of activities help them to generate
revenue from the competitive market. It is important for the entrepreneurs to organise their
efforts and activities so that they can provide their goods and services to the targeted customers
in order to achieve profitability from the marketplace. There is a wide range of business which
can be scaled from sole proprietorship to international cooperation (Movono and Dahles, 2017).
This assignment also discussed the several types of business organisations and their
strengths and weaknesses with respect to the legal status in the United Kingdom. There are
different sources of funds which can be adopted by the companies in order to start up their
business. Lastly, the policies of the Human Resource Department and their importance are also
discussed with respect to the modern workplace.
Main body
Question: One
Construct a table in order to show the legal status of business organisations which can be
adopted by them with respect to their strength and weaknesses
Base Meaning Strengths Weaknesses
Private business
organisations
The sole
proprietorship is the
one of the type of
private business
companies which can
be start-up by a single
entity. It is also
known as the sole
trader as it is the
Sole proprietorship is
the least expensive
business as the
individual person can
start the company.
There are less rules
and regulations which
are governed by the
government.
Small business
organisations are
facing the challenges
in order to raise the
funds and investment
so that they can grow
in the competitive
market. As it is very
difficult for the single

simplest form of
business with respect
to the Incorporation. It
does not create a
separate legal entity
from the owner (Chen
and Cheng, 2020).
The owner will be the
individual who will be
liable for all the
liabilities which are
entered within the
company. The sole
proprietorship that is
generally owned and
managed by the small
business organisation
and who wants to be
the self employed
people.
The owners of these
types of organisation
have 100% control
over the management
and funds. In these
types of companies
the shareholders and
board of directors are
not there in order to
manage the
operations.
person to raised funds
as the outsider in
whom theatres are not
allowed. This resulted
in the slow growth of
the organisation and
difficult for the owner
to achieve their
business objective
business objective
(Tsutsumi and Silva,
2018).
When the owner of
the types of
organisation is dyed it
is resulted in
dissolution of the
firm.
The owner of the
company will be label
in order to address
losses and other
liabilities with
incurred in the
company.
Public Company Public companies are
such companies in
which the general
public can help the
organisation in order
It is easy for these
types of organisation
and order to raise the
capital as the
company can issue the
It is difficult for the
steps of organisation
to protect the rights of
the shareholders As
for this they are