Business Law Report on Sole Proprietorship, Funding, and Management

This report delves into the core aspects of business law, focusing on the sole proprietorship business structure, financial strategies, and effective management practices. It begins with an introduction outlining the scope of the study, followed by an examination of the sole proprietorship model, detailing its characteristics and advantages. The report then explores various funding sources, emphasizing the significance of personal finance and its limitations. Furthermore, the report highlights the importance of strategic management, including business planning, financial tracking, and cost control to achieve business objectives. The conclusion summarizes the key findings, underscoring the importance of these elements for business success. References from the assignment brief are also included.

Business Law

TABLE OF
CONTENTS
 INTRODUCTION
 TASK TWO
• Formation of Different Types of Organizations
• Management and Sources of Funds
 CONCLUSION
 REFRENCES

INTRODUCTION
The ability of a company to deal with
challenges successfully and efficiently is aided by
business law. It is necessary for the successful
establishment of a business. The PPT explores the
many types of business organizations, as well as
financial sources and management of business
operations

TASK TWO
Formation of Different Types of Organizations
Sole Proprietorship
A single-person-owned and operated business is referred to as sole
entrepreneurship. The most common type of business structure is the
sole proprietorship. For example, Freelance work, etc.
Advantages:-
1. Ease of Establishment: There are no lengthy documentation
or complex legal requirements for establishing this type of business.

Management and Sources of Funds
The organization must be handled appropriately and efficiently in order to achieve
the desired goals. This can be accomplished by:
• putting together a solid business plan
• keeping track of the company's financial situation
• securing adequate funding from reputable suppliers
• keeping costs under control

The funding source must be suited for the kind and capabilities of the business;
some options are described below:
Personal Financing
It's all about keeping track of one's own spending in personal finance. Debts
incurred as a result of this source no longer effect creditors. However, such a
significant sum of money cannot be used to make a substantial market
investment. This approach is not suitable for large investments in the
marketplace.

CONCLUSION
The second activity focuses on the formation of various types of
organizations, as well as their advantages and disadvantages. In order to attain market
success and growth, the presentation examined at how firms are managed and
funded.

References
Trevelyan, G.M., 2021. England under the Stuarts. Routledge.
Lantz, B., 2021. The consequences of crime in company: Co-offending, victim–
offender relationship, and quality of violence. Journal of interpersonal violence,
36(7-8), pp.NP4363-NP4388.
Teplova, T.V. and Rodina, V.A., 2021. The reinvestment risk premium in the
valuation of British and Russian government bonds. Research in International
Business and Finance, 55, p.101319.