The Structure of Business

The Structure of
Business

Table of Contents
Table of Contents.............................................................................................................................2
Introduction......................................................................................................................................1
Main Body.......................................................................................................................................1
Question One:.........................................................................................................................1
a) The various legal statuses of the business and the relative strength and weakness of the
statuses....................................................................................................................................1
b) The business idea, its strength and weakness of the different sources of the finance
available to the business start-up............................................................................................7
Question Two: The different sectors within the UK economy within which a business can
operate. There are three area where business can work in fruitful way that are, associated as
under:....................................................................................................................................10
Question Three: The different HR policies..........................................................................12
Conclusion.....................................................................................................................................13
References......................................................................................................................................14

Introduction
The present report initiates to design a business idea for encouraging growth and
development in the current pandemic of COVID 19, as the government of UK has mounted one
of the most aggressive economic response to the Covid 19 pandemic, pledging billion of pound
to support the business and the start ups via the crises. The government of UK has pledged the
equivalent of around 8.5 percent of the GDP towards fighting the crises. Therefore, the major
spending is going towards supporting the businesses for managing the stability of economy. In
this present study, the idea of business plan is based over setting up a business of rental car
facility for people in UK with the name of the business “Car on Rent” for providing effective and
safe driving facilities to the people (Lewandowski, 2016). As the pandemic has affected the
normal routine of people as they are having fear of going out and be a part of a crowed and in
this situation the individual car facility with full safety measures of COVID 19 has provide
relaxation to the people. Therefore, the idea is also effective to contributing a lot in the economic
development of the country.
Main Body
Question One:
a) The various legal statuses of the business and the relative strength and weakness of the
statuses.
Business works under different legal status and acts as per the legal norms, the suitable
legal status of the business which are effectively be implement by the businesses are categorised
among private limited company, limited company, registered charity and so on, therefore, the
suitable evaluation of the legal status are associated as under (Steingold and Steingold, 2019).
Basis Description Characteristics Framework Strength Weakness
Private
Limited
Compa
ny
(PLC)
A private
limited
company is
the business
which is
effectively
owned by the
The key
characteristics
of private
limited
company are
the limitation of
The company is
mainly following
the structure
where the
operations held
under the
guidance of
The key advantage
of private limited
company is the no
minimum capital
which is needed to
form a private
limited business. a
The key
disadvantage of
PLC business is
which it restricts
the transfer
ability of shares
through its
1