Structure of Business Growth

Structure of Business
growth

1

INTRODUCTION.
Business involves an activity which is commercial in nature where an individual engages in
continuous production or purchases and sells commodities with the goal of making a living and
accumulating wealth by meeting human needs. According to Murphy (2017), when starting a
new business, an entrepreneur has several goals in mind, such as increase customer base, uplift
the standard of society, creating various opportunities of job and so on. The structure of a
business determines who owns the entity, how profits are distributed, who is accountable to
whom, and so on. Sylvan Carpet Fashion, a feasible business start-up in the UK's online retail
market, was chosen to improve knowledge of business structure. The start-up company sells
mattresses as well as floor coverings. The company concept is a viable alternative for an
entrepreneur with limited money and the ability to meet client demand for adorning the floors of
homes, workplaces, and other buildings. The paper discusses several business sectors that
contribute to the economy, as well as diverse legal frameworks in context to start-ups. It also
emphasises the significance of HR policy in today's industry.
QUESTION ONE
Formulate a table which shows legal statuses along with different frameworks of business?
As per the point of view of Storey (2016), Business is an entrepreneurial notion in which
production as well as selling of items can tends to be done with the intention to earn maximise
level of profit. It is very importantl to identify different legal structure in order to comply with
regulations such as registration, licencing, and so on. The internet retail market in the United
Kingdom is one of the fastest expanding segments, providing exciting chances for exceptional
young entrepreneurs to start their own firm. Entrepreneurs are also aware of the opportunities
that have arisen as a result of rapid technology advancements.
Starting an internet retail business, such as Sylvan Carpet Fashion, is a wise business
move. Sylvan Carpet Fashion is a website that sells floor and bed coverings. Its goal is to provide
exceptional customer service and make it easier for customers to modify their spaces. Carpets for
vinyl flooring, wood flooring, and other types of flooring are among the company's offerings. It
also has a stock list of headboards, beds, and mattresses in a wide range of designs to suit clients'
2

budgets and styles. The table below displays the several types of business frameworks or legal
statuses that Sylvan Carpet Fashion can use:
Frameworks of
businesses
PLC LTD CIC Registered
Charity
Meaning
PLC stands for
public limited
corporation, and
its shares are
traded on stock
exchanges. Its
liability is
tendsn to
be limited
(Roberts, 2018).
.
LTD stands for
Restricted
Liability
Company,
which means
that the
shareholders'
liability is
limited to the
amount of
money
deposited.
Limited
Liability
Corporations
(LTDs) are a
type of business
that has limited
liability.
CIC stands for
Community
Interest
Company, and it
exists to serve
society by
establishing social
aims despite
making a profit.
A registered charity
is a business that
establishes and
tends to operates
some activities for
charitable reasons.
Objectives Businesses that
use the PLC
framework aim
to raise as much
capital as
The LTD
framework is
used by
enterprises with
the goal of
. The goal of a
CIC-structured
firm is to use
profit and
services to benefit
The goals of a
registered charity
organisation are
philanthropy and
social well-being
3