Types of Companies

Types of Companies

Table of Contents
INTRODUCTION...........................................................................................................................1
Main Body.......................................................................................................................................1
Section 1 - Distinct kinds of organisations and the way they work.......................................1
Section 2 – Distinct organisations from sole traders to Limited Liability Partnerships and
cooperatives............................................................................................................................2
Section 3 – Distinct structures of business and the way extrinsic factors affect businesses. .3
CONCLUSION................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
A company is basically a legal entity that is mainly formed by a group of individuals who
are tend to engage in and operate a business which can be a commercial or industrial enterprise
(Allam, Scagnelli and Corazza, 2020). The organisation selected for current investigation is
Aston martin which is a well-known independent producer of luxury sports cars as well as grand
tourers of Britain the main headquarter of which is situated at England, UK. The current
management report consists of definition, characteristics and examples of various types of
companies and legal entities along with description about the distinct intrinsic and extrinsic
forces that influence on businesses.
Main Body
Section 1 - Distinct kinds of organisations and the way they work
In every business environment some common types of commies are present which are
different on the basis of there and scope of working a description about which is provided as
below:
Micro Business – A micro-business which is also commonly known as a micro-entity are
defined in the UK as the company with around 0-9 employees or mitigate one of the criteria
employs few than 10 workers and has a yearly turnover or balance sheet no bigger than 2 million
euro or utilizes no more than 100,000 kWh of electricity every year; or utilizes no more than
293,000 kWh gas per year (Conceição and Rodrigues, 2021). The main characteristics and scope
of working of a micro business consists of the fact that they have limited business operations and
a simple organisational structure with limited activities and operations. The examples of top
micro business in United Kingdom comprises of Castle Hill Fire Protection Ltd, Boss Brewing
Company, Mantons Cards and many more.
Small business- As per the provisions of Companies Act 2006, United Kingdom a small
organisation can be described as one that does not have and exceed the turnover of over
£6.5million, along with nit having a balance sheet total of over £3.26 million and does not
employ and have over 50 employees. The main characteristics and scope of working of a small
business is also limited to domestic or local boundaries with limited access to resources.
Therefore, small business is tending to operate at local level with limited resources and simple
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