BUS0005NFBNM - Structure of Business: Sectors, Legalities & Finance

This report analyzes the structure of business, focusing on the implementation of business practices that drive economic growth and welfare. It covers various aspects, including different types of business and their legal statuses, evaluating sources of finance for start-ups, and examining the strengths and weaknesses of each. The report also identifies three different sectors operating within the UK economy, commenting on their value, and highlights the importance of HR policies in the modern workplace. The analysis incorporates internal and external factors such as mission, resources, vision, and control, providing a comprehensive overview of how businesses can maintain work-life balance and ensure the protection of individuals within the company.

The Structure of
business

TABLE OF CONTENT
INTRODUCTION.......................................................................................................................................3
QUESTION 1..............................................................................................................................................3
Types of business and legal statuses in the business with all strength and weakness...............................3
Evaluation of various sources of finance that is available for business start- up together with its pros
and cons.................................................................................................................................................12
QUESTION 2............................................................................................................................................14
Three different types of sectors which operate within the UK economy and the difference between all.
Comment on their value in UK economy..............................................................................................14
QUESTION 3............................................................................................................................................16
Identify two HR policies and its importance in modern workplace.......................................................16
CONCLUSION.........................................................................................................................................16
REFERENCE............................................................................................................................................17

INTRODUCTION
Structure of business is mainly the implementation of business practices which helps out
to lead an important company in their working process it helps out to maintain the economic
growth in the companies and also helps in economic welfare for the countries. It emits out to
raise the living standard of the individuals and also to maintain strong relations in a global
methods of development (Weerawardena, and et. al., 2019). There are mainly laid out different
operational activities through which implementations of environmental access and decision
making process can be framed it covers out internal and external factors which are like mission,
resources, vision, control over the organisation and growth. It helps out to maintain the work
balance and also protection for all the individual swapping working in the company. This report
will cover types of business and the process of funding and implementation of different legal
aspects for the business practises.
QUESTION 1
Types of business and legal statuses in the business with all strength and weakness.
Business is an important area which helps how to implement the growth and also promote
the welfare of the society by implementing the standard and also the productivity and
advancement for the individuals in the market segment (Urbach, and Röglinger, 2019). There
are some important implications of business which are mentioned below:
Types of
businesses
Legal statuses of
businesses
Strength Weakness
Public
organisation:
This covers out all
those business
practices which
are being covered
and handled by
the government as
It provides out three
important types of public
organisations which are
mentioned below:
 State: It cover all
the important
central government
beneficiaries and
 It helps out to
create a
cultural
balance and
also the
autonomic
environment
through
 As there is
an
involvement
of the
government
would
usually cover
out so much

this used to
provide all the
government
authorities to deal
with these
measures and
market segments
in order to raise
the benefits. All
the public
organisational
business practices
are being carried
out in order to
maximise the
profit and also to
generate the
advancement for
the living
satisfaction of
customers and
also for
optimising deep
social and
economic welfare
for the people.
handling of
business practices
with the help of
different function
respects the help of
state government.
All the
maintenance and
the smooth running
of business is
being done by the
help of state
government
(Simons, and
Handl, 2019).
 Central: This
includes and cover
all the important
government
control areas
through which the
business is being
impact to the
practices that are
being authorised
and being given to
the government
areas. Also
business practices
used to cover out
and are being
which the
operational
activities in
independent
areas party
practises in
the business
implications
can be
maintained.
 It helps out to
maintain the
welfare for
the
individuals
and to
maintain the
satisfaction
for the
customers as
it develops
the welfare
and the
Parliamentary
scrutiny
through
which the
formulation
of aspects can
be
implemented.
of
interference
from the
government
side which
affect the
business
practises and
also the
individual
methods and
the right
steps are
being taken
from the
decisions
implementati
on.
 There has
been made
different
corporations
through
which
application
of
monopolies
and
important
regulations
can be

under the control
of central
government for
following up the
addressal and
benefits for the
people.
 Local: All those
business which are
being carried
through the
implementation of
authorities and also
the undertakings
that are being led
by the government
in local methods
and framework
(San Martin, and
Saona, 2017).
framed out
through
which they
can provide
the order
balance and
also the
satisfaction
for the
restoration of
work and
also the
methods
through
which it
helps out to
lack the
interest of
the person in
framing the
work process
and also the
corporative
areas through
which the
government
is being
undertaken
control as it
involves a
permanent

and a
personal
well-being
with an
absence of
culture.
Private
organisation: All
those business
practices which
are being carried
by the sole owner
and helps out to
increase the profit
for the private
advancement of
individuals in
order to gain the
business practises
in advancement
with generation of
profit can be
implemented in it.
Sole proprietorship: All
those business practices
which are being handled by
a single individual is as it
carries out the
responsibilities as a sole
individuals and they try to
regulate important
amendments and the rights
through which the
opportunities are being let
out in it (Kompalla and et.
al., 2017).
 All the
projects and
organisational
decisions are
being
implemented
with the help
of sole owner
as they used
to carry out
all the
important
rights
regarding the
practices that
are being laid
in the
business.
 They will not
be any
involvement
of the third
party and the
management
is mainly
 This business
used to be in
a threat when
the person
dies it will
automaticall
y affect the
business as it
will dissolve
the company
has ever
know the
person to
implement
and
strategise the
handling of
business in a
proper
manner.
 There lies all
the important
troubles and
the duties
with the

being laid out
by the owner
in a soul
manner as to
carry out the
liabilities and
also
implement the
methods
through
which the
payment of
taxes and the
assets, profit
all are being
raised by
them
assets on the
sole owner
as they will
have to carry
and
implement
the strategies
according to
the mess that
are being
given by the
business
practises
(Guo, and et.
al., 2017).
Partnership: These are
mainly the business which
are being carried out by
two or more individuals.
As it serves out to provide
all the important liabilities
If provides out to maintain
all the important laws,
assets, profit through
which the sharing and
implementations into
individual’s rights can be
maintained.
 All the profits
are being
shared equally
and the
partners you
should turned
out to
maintain the
loss and profit
in order to
maintain the
investment
and also to
frame out the
 As you to
joint liability
is there a rise
so much of
effect on the
business
practises as
partners
usually create
out the
policies
through waste
of working
can be

larger sum in
different
aspects
(Holzmann
and et. al.,
2017).
 All the
responsibilitie
s and the rules
are being
shared equally
by the partners
and it helps
out to promote
and help in
larger areas so
that the taxes
shared
equally.
implemented
in the liable
form.
 As the
leaving of the
partner of the
company or
organisation
will
permanently
dissolve firm.
Limited liability
partnership: It mainly
provides the separate legal
entity through which all the
important allocations can
be implemented in the
fundraising and also the
partners are being carried
out in a core manner for
legalising the allocations of
important funding.
 A large
amount of
capital
contribution
can be rest out
in this kind of
organisations
and a personal
development
of various
capital funds
can be raised.
 The penalties
on all the
private
companies
can be
implied on
the non-
compliance
and non-
sharing of the
profits of the
business

 It helps out to
maintain an
easy approach
through which
all the liability
forms can be
implemented
and handled
through their
aspectual
methods and
different
approaches
(Fedorenko,
and Berthon,
2017).
practices and
areas.
 There mainly
comply that
one of the
partner used
to have the
maximum
shares and
cover of the
dominant
position.
Companies: It is an
artificial personality which
used to help out and carry
the perpetual succession
through the less separate
legal entities. It provides
out the private companies
which used to carry out the
business through the help
of them on saving and the
funds that are being
managed by them and the
public companies which
used to carry out the
fundraising through the
 It helps out to
maintain and
raising the
funds through
which all the
personal
aspects and
the liabilities
can be a rise
and the shares
can be
implemented
and enrolled.
 Companies are
mainly long
 It is the time
taking and a
complex
process as it
requires so
much of legal
essentiality
and
complications
through
different
requirements
and methods.
 It also
provide the

shareholders and directors. living as all
the business
can change but
they will
remain forever
as according
to the
perpetual
succession
state last for so
long and will
remain for
forever period
of time
(Collinson and
et. al., 2020).
working areas
and the
privacy is not
being carried
out in the
business
practices as a
director will
have to
disclose all
the matters to
the general
market share
and segments
and will not
be any
secrecy in
booking
areas.
Voluntary
organisation: All
the business
practices which
are being carried
out by the non-
profitable market
and organisations
which are being
handled by the
volunteers in
order to maintain
It consist of two important
types of voluntary
organisations they are like:
 Trust: It provides
out all the
governing areas
through which the
appointment of the
trustees can be
maintained and
different
implementation and
 It is mainly a
public trust
through which
all the
important easy
methods can
be approached
through which
the social
working can
be accessed
and
 It is a time
consuming
process and
also require a
lot of
dedication
and hard
work hard
work with
patience for
implementing
such

the staff members
and also raise the
expenses for the
social working
segments are
being carried in it.
values can be
supplied through
their working areas
and segments.
 Associations:
These are mainly
the legal documents
that will be given in
the business
practices through
which all the
powers and
important legal
segments for the
working of social
serves will face and
can be made.
maintained.
 These many
employees the
inclusion of
different types
of taxes that
are being used
for the educate
amount of
segments that
are being
raised in
working areas
(Cosenz, and
Noto, 2018) .
business.
 There is no
growth and
economic
sector as the
shareholders
useful for all
the benefit for
the social
areas and
causes and
the company
is used to
work for the
disclose
meant of the
public
methods.
Charitable
organisations:
These are mainly
the ventures
which are being
registered in order
to maintain the
charitable trust
and the non-profit
venture serious it
helps out to
provide all the
benefits to the
 Unincorporated
association: It
mainly provides out
all the important
activities for which
association used to
maintain the
benefits and also
raise out the
implementations
through which the
advancement in the
public welfare can
 It mainly
focus on the
growth and
advancement
of individuals
that been
given for the
welfare of the
public trust
and all the
societal
growth.
 This also to
 It mainly
focus on the
implementati
on through
their
compliance
and all the
regulatory
requirements
that helps out
to provide
employment
to nature and

staff and the
person who are in
need for the
growth and
success of people
being in need.
be incorporated and
associated.
 Charitable trust: It
mainly serves out
groups that are
being called as
trustees which
helps out to
incorporate
different types of
organisation for the
social welfare and
programs.
provide the
charitable
objectives
through which
they try to
maintain all
the efforts
through which
all the
objectified
nature and
objectives are
being created.
bases areas.
 It provides of
the
fundraising
methods
through
which all the
defendant
areas and
rights can be
implemented.
Evaluation of various sources of finance that is available for business start- up together with its
pros and cons.
UK helps out to provide different kinds of firms in all the aspects and sources which are been
mentioned as follows:
 Bank loan: These are loans that are being taken by the companies from the banks in
order to start the business practises and also to increase or in expand their business in
different aspectual firms(Alazab, Bevinakoppa, and Khraisat, 2018). It provides all the
practices through which all the independent strategies can be provided and the different
fixed term of methods of loan can be served out in all the areas and nature.
Strength
 It provides out all the rules and
opportunities through which
advancement of the business can be
given out and all the regular basis of
money can be expanded it provides out
the money in order to expand the
Weakness
 All the monthly installments have to be
given for the bank in order to maintain
the easy cash flow and that should be
on the due date that is been specified by
them.