Different Types of Companies and Organizations in Business Environment

BUSINESS IN
PRACTICE

Table of Contents
INTRODUCTION...........................................................................................................................3
SECTION: 1 Different types of companies and how they are working .........................................3
SECTION: 2 Define different organisation from sole trader to partnership, cooperatives &
limited liability.................................................................................................................................4
CONCLUSION ...............................................................................................................................6
.........................................................................................................................................................6
REFERENCES................................................................................................................................7

INTRODUCTION
The purpose of this report can be consider as to analyse the different type of business
which is operating in the business environment. Enterprise refers to the separate business entity
in which is being formed by the person or the group with the thinking of making high income
and market growth (Sanasi and et. al., 2020). Businesses use several theories and application in
order to understand the market scenario and the consideration of the government in relation to
the business. In section 1 and 2, the report will cover the various examples of the business. This
report deals with the several kinds of businesses.
SECTION: 1 Different types of companies and how they are working
Micro business
Definition: It is defined as the business venture which are operated for the survival of the
individual because of the availability of limited resources and capital for the purpose of running
their business. They are operating their business in the local market of London due to insufficient
funds.
Characteristics: An enterprises where less than 10 employees are working due to small
size of business and the constricted sources. They normally make the profit of £632000 and
besides emphasis on fulfilling the needs and wants of their possible consumers.
Illustration: Miel Bakery is the suitable illustration for the small enterprises which is
providing few range of products which include pastries, cake and many more.
Small business
Definition: these are the businesses that are bigger as compared to the micro venture and
operating their business in order to continue in the marketplace for the long duration of time
period. They also emphasising on proving various employment opportunities as there working
with maximum 49 employees.
Characteristics: these business operating their business to limited areas due to having
limited funds within the organisation. They are working with the aim of generating higher profits
and also liable to pay taxes to the government by which they earn less amount of profit.
Instance: Broadwood Event House is the suitable illustration for the small enterprise
where they are operating their business with 10 worker and too emphasising on earning high
3