Types of Companies and Their Legal Structure - Desklib

BMP3002
Business in Practice
Assessment 1
Types of Companies
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INTRODUCTION
In UK, there are various types of companies are operating by most of the
entrepreneurs like micro, small, medium & large businesses. Every type of businesses
contains specific motive, size, scope & characteristics which constantly work for the
development of their marketing by appropriate goods & services. Every kind of
businesses is established their company with an appropriate legal structure likes sole
proprietorship, partnership, companies, and limited liability business (Bradley, 2020).
(Blair and Hitchens, 2018). The prime concern of this project is to discuss about various
types of businesses & their legal structure with its specific characteristics. ASDA
company is considered for chosen organization which situated in 1949 & headquartered
in Leed , England. This project will determine the organizational structure that can
impact the productivity of the business. PESTLE analysis will apply to determine the
impact of external factors on business performance.
MAINBODY
Section 1 : Different types of companies & how they work
As per to maintain business in a specific industry & field, there are different kinds of
companies are running their business operations. All type of Companies are essential to
improve the economic development and also in living standards of the local people and
communities. The description about different types of companies & it's characteristics &
how they perform their work are discussed below -
 Micro Business - This kind of businesses are small scale & size but the
purpose of these companies are more effective because entrepreneur open their
organizations with the specific business idea which can help us to improve the
living of the local communities. This type of business is required less amount of
money for establishment & less than 10 people can work effectively. The annual
turnover rate contain as £2 million. Micro businesses are considered some