The Structure of Business

THE STRUCTURE OF
BUSINESS

INTRODUCTION...........................................................................................................................3
QUESTION ONE............................................................................................................................3
Constructing a table for showing various legal statuses or business frameworks.......................3
Strengths and weaknesses that are required to consider while planning to establish the business
.....................................................................................................................................................5
QUESTION TWO...........................................................................................................................7
Identification of three sectors in UK wherein business can operate............................................7
QUESTION THREE.......................................................................................................................9
Identification of two HR policies and their importance to modern workplace...........................9
CONCLUSION..............................................................................................................................10
REFRENCES.................................................................................................................................11

INTRODUCTION
Business means that type of commercial activities in which a continuous production is done
and selling of commodities take place by an individual. This is done in order to gain satisfaction
through buying and selling of goods for the purpose of earning livelihood, profit and providing
satisfaction to customers. While establishing of new business different goals are going on in the
mind of an entrepreneur that is earning profit, generating customer base, doing social welfare,
job creation and many other things. All these are part of business structure and in this assignment
Love craft has been taken that is one of the most popular start-up which is related to retail
industry of UK. Such start-up deals with beds and floor designing products. This is a very
effective idea of business with less capital to be invested and most importantly demand of
customer can be achieved in very effective manner. This report is based upon business sectors
which contribute to an economy, different legal framework in relation to business start-up and
finance generation of alternative. Also human resources have been identified with modern
business.
QUESTION ONE
Constructing a table for showing various legal statuses or business frameworks
According to (Christensen, Bartman and Van Bever, 2016) Business is an idea that is being
presented by an entrepreneur over production and selling of products in order to gain profit from
it. It is very important to keep in mind legal rules and structure of a business to full fill
requirements that are related to registration of business to get license. As online retail business is
one of the fastest growing industries in UK and upon that it is able to provide opportunity to
young and talented entrepreneurs to start a business. Entrepreneur is required to be aware about
the opportunities that are there within the market because of technological development in a
country. To start an online business of retail business Love craft is required to take effective
decision and its entrepreneur has to be committed over delivery of best services to its customers
and makes process of delivering easy for them. range of product includes both carpet for all
kinds of flooring and wooden finish cover for floor. Also it has other products like clothes, belts,
wallets with vide range of design and cost specific material which suits all range of customer.
The table shows various kinds of legal framework which can be adopted by Love craft and they
are as follows:
Frameworks of
businesses
PLC LTD CIC Registered
Charity
Meaning PLC means
public limited
company that
LTD means
Limited
company which
CIC means
Community
Interest Company
Business that has
to be established
and activities are to

has shares which
are being
distributed in
public in the
form of stock
exchange and
liability is also
limited.
has shareholders
and there
liability is
limited over the
capital that has
been invested.
The business
has to be
featured as
limited liability.
that is existing in
order to benefit
society with view
of initiating social
purpose instead of
profit earning
(Clauss, 2017).
be operated to
charitable purpose
and get it
registered.
Objectives Business that
has to be formed
as per PLC
framework is
able to raise
maximum
framework
having objective
to gain
maximum
capital shares.
Businesses have
to be adopting
LTD framework
that is having
objectives in
order to gain
profit out of
operations of
business.
Objective of
business is
adopting CIC
structure for
utilizing over
public
commodities
An registered
charity has an
business and are
philanthropy along
with social well
being.
Commencemen
t of business
In PLC,
business and
Certificate has
to be made
regarding
commencement
of business
along with
incorporation
certificate to
start business.
In LTD,
business has to
obtain an
certificate of
incorporation
with the hope of
doing business
in that market.
Businesses which
are planning to
adopt CIC
structure has to
gain Certificate of
registration and
incorporation to
perform business
activity.
Planning business
has to do business
ender registered
charity framework
and has to have
Certificate of
charitable
incorporation and
many more.
From the above mentioned table it has to be understood that Love crafts is required to
take LTD structure with the framework of business. Star-up of an online retailer has to achieve
professional status, separate legal identity, investment also providing opportunities, maximizing
tax free gains, generation of huge income and is necessary over protecting organization and its