Types of Companies and Their Characteristics - Desklib

Types of Companies

Table of Contents
INTRODUCTION...........................................................................................................................1
SECTION 1......................................................................................................................................1
Different kinds of companies and how they work with various characteristics and examples . .1
SECTION 2 .....................................................................................................................................3
Define sole trader, partnership, public limited liability and cooperative, limited liability along
with examples and characteristics ...............................................................................................3
SECTION 3......................................................................................................................................4
How external factors affect firm productivity and different business structures ........................4
CONCLUSION ...............................................................................................................................6
REFERENCES ...............................................................................................................................7

INTRODUCTION
The term company is a form of legal entity within which firm operates and form of group
of individuals are work together towards accomplishing their goals and objectives (Baron and
Hannan, 2021). It is also depend upon their liability paying taxes and financial liabilities purpose
upon depending law. Companies either public or private with a common goals and objectives
within an organization and having a separate legal entity. For this assessment, selected
organization is Unilever PLC, is a multinational consumer goods organization which is situated
in UK and sold various product such as food, personal care and household products are included.
This report covers various topics which are named as different kinds of firm and how they should
work, dissimilar firms like sole traders, limited liability, partnership and public limited liability
companies along with characteristics and examples and how external factor affect their business
productivity and profitability.
SECTION 1
Different kinds of companies and how they work with various characteristics and examples
Micro business: This term defines that micro business operates a very small business
within fewer employees are 10 including owner and manager in business. Micro business work
as other businesses also to select a formal structure or changing in any partnership purpose,
setting up a marketing, finance and operations of firm and to get a business plan. Micro business
consist that should be recognized or long term standing family having play a vital role in
business. Examples of micro business are art & crafts business, graphic and design business and
many more (Basu, 2020).
Characteristics of micro business:
 All work are should be related to management and controlled by owner and there is
having a single owner in business.
 Resources are available immediately and better utilization of resources and wastages are
limited.
Small business: It should be defined that as a privately owned corporation with fewer
workers are there where 50 employees and it will be helpful for firms to support local or national
economy. It is also categorized by limited organization and size are compared on such sector.
Examples of small business are restaurants, salon, bakery shops and so on.