Analysis of Business Frameworks, Finance, and UK Economic Sectors

This report delves into various aspects of business development, commencing with an exploration of different business frameworks and legal statuses, including public and private organizations, sole proprietorships, partnerships, and limited liability partnerships, along with their respective strengths and weaknesses. The report then evaluates various sources of finance available for business start-ups, such as venture capital, bank loans, and angel investors, discussing their pros and cons. Furthermore, the report examines three different types of sectors operating within the UK economy – primary, secondary, and tertiary – and differentiates between them, commenting on their value and contribution to the UK's economic landscape. Finally, the report identifies and explains the importance of two key HR policies in the modern workplace. The report aims to provide a comprehensive overview of these critical business elements.

The structure of
business

TABLE OF CONTENT
INTRODUCTION.......................................................................................................................................3
MAIN BODY..............................................................................................................................................3
QUESTION 1..............................................................................................................................................3
Types of frameworks or legal statuses of the business together with its 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............................................................................................................................................13
Three different types of sectors which operate within the UK economy and the difference between all.
Comment on their value in UK economy..............................................................................................13
QUESTION 3............................................................................................................................................15
Identify two HR policies and its importance in modern workplace.......................................................15
CONCLUSION.........................................................................................................................................16
REFERENCE............................................................................................................................................16

INTRODUCTION
For all the companies and also to maintain the living standard for the people it serves out
important area to frame a business in order to promote the social and economic benefit for the
society as it provides methods of raising money and also to implement development in
manufacturing and global products and development. It helps out to operate different activities
through which the decision and the environmental influences can be implemented out in different
processes (Callot, 2017). There are mainly two important kinds of factors as an internal factor
used to implicate vision, resources, mission etc. External factor are mainly being served through
the growth and the control in organisational sectors and the functions that are being maintained
by the companies. This report will deal with funding, business types and all the important
methods in order to increase the economic process.
QUESTION 1
Types of frameworks or legal statuses of the business together with its strength and weakness.
Business heads out to promote the growth and success and also provide the different
objectives through which the living standard and the momentum of the individual can be
obtained. Some of the important areas of business implications are as follows:
Types of
businesses
Legal statuses of businesses Strength Weakness
Public
organisations:
All those business
which are being
handled by the
government at the
main initiative is
to create a social
welfare and the
growth of the
This mainly includes three
types of public organisations
which are like:
 Central: All those
business practices
which are being
controlled under the
central government
and are being
handled and
 This is mainly
helpful as it
provides the
autonomy and
also provide
the
independent
areas through
which the
operations of
 As the
central
government
is being
involved in it
and the
government
usually
create an
interference

society are being
covered under it.
Public
organisational is
used to deal with
the generation of
maximum profit
and also to attain
the growth and
the benefit for the
advancement of
people and the
customers.
authorised by the
practices of central
government are
covered under it
(EEide and et. al.,
2017).
 State: This mainly
provides out all the
business which are
being handled by the
central government
but their
implementation and
the functioning is
being maintained
through the state.
 Local: It provides all
such business
practices which are
being handled by the
local authorities and
also cover out the
advisory areas
through the
government.
business
practices can
be enjoyed in
a full manner.
 This
formulate and
regulate
important
welfare for
the customer
satisfaction
and also move
their different
aspects
through the
Parliamentary
scrutiny tea
and welfare of
the society.
in all their
political and
their
personal
matters
which is
being
implemented
and the
decision that
are being
taken by
them.
 It try to
implement
and ignore
all the
working of
the
corporation
and also try
to create a
monopoly
and their
own rules
and
regulations
through
which the
absence of
the function

through
which the
interest can
be created
and the
customer
satisfaction..
Private
organisation: All
those business
which are being
carried on by the
private
individuals and
the focus and
generate the main
aim in order to
generate a profit..
Sole proprietorship: This
provides out all the
opportunities through which
the business is being handled
by a single person and its
sole person.
 All the
important
decisions and
implementatio
ns are being
taken by the
sole owner
(Magaireah,
2019).
 They will not
be any third-
party
involvement
and the
management
is done by the
single person
and the
liability and
regarding to
the payment
of taxes and
implementatio
ns are being
 It mainly
creates a
trouble for
the person as
to carry all
the liabilities
and assets.

done by the
sole owner by
their own
methods and
means.
Partnership: All those
business practices which are
being handled by two or
more individuals with used
to agree on sharing all the
profit, loss, assets on the
liabilities and all the debts
that are being taken by them
(Infante-Moro, and et. al.,
2018).
 As one more
individuals
are being
involved there
are being
taken more
power
regarding to
the sharing of
profit and also
to make the
decision.
 It helps out to
split all the
taxes and the
issues with
the
responsibility
are to be with
the partner
and also
create a major
help by
implementing
the values and
important
 As all the
partners are
liable for the
joint liability
areas it
usually
create a
major effect
on all their
policies and
working
areas.
 If any of the
partner leave
the firm it
will
permanently
dissolve the
company
and will
affect the
company in
variable
means.

decision.
Limited liability
partnership: These are
mainly the important core of
partnership with used to
create a separate legal entity
in all their business with
their partners and their
allocations of meaning and
funds.
 It helps out to
maintain the
capital
contribution
and also to
maintain the
business
practises in
personal
methods.
 All the
liability firms
ability easier
to handle and
also to
maintain as
the cover all
the partners
and an easy
methods
approach(Ehrl
ich, and et. al.,
2018).
 In all such
firms one of
the partner
will be more
dominant
over the
other as they
cover out
more
responsibiliti
es and
liabilities
and shares in
there
accordance.
 It helps out
to provide
and maintain
the high
penalties for
all the
private
companies in
order to
maintain the
non-
compliance
of business
practice.
Companies: All those  They try to  It is usually

business which are being the
artificial personality and
carries out their own
separate legal entities are
covered as companies
company usually are the
perpetual succession be
deals with all the important
areas. (Bena, and
Giraudo,2017).
maintain all
the shares
through the
publicly
liabilities and
also try to
enroll their
business
through the
funds that are
being raised
through the
liabilities of
the personal
aspect.
 It is a long
living
business
practice as a
company is
usually
carried a
perpetual
succession.
require so
much of
complex
time period
and also a
complex
method in
which
consumer
used to
create so
many legal
requirements
in their
business
practises.
Voluntary
organisations:
All those business
and organisations
which are being
carried out for the
non-profit firms
There are mainly two
important kinds of voluntary
organisations they are like:
 Associations: It
provides out all the
legal documentation
is in their practises
 These are
handled by
the public
trust and all
the social
worker and
usually be
 This is a
time taking
process as it
requires a lot
of hard work
and time for
implementin

and are being
managed by the
social works and
volunteers and
their staff
members in order
to take the
expenses and also
to maintain the
work process.
and business through
which they try to
objectified all the
areas in the
membership and also
provide the power
through which they
can lead out the legal
methods in business.
 Trust: It maintains
out all the governing
power through which
the trustees are there
by being appointed
and objectified
through which the
important
implementation.
create through
an easy
method so
that they can
be approached
in an easy
method and a
fast process
(Yun, 2018).
 It used to
provide an
adequate
release and
also there will
not be any
inclusion of
taxes in their
working
segments.
g the
business
strategy.
.
Charitable
organisations:
These are the
non-profit
ventures which
are being
registered and
also being
implemented in
order to frame the
charitable status
and also to
 Charitable trust: It
provides small
groups which usually
called as trustees as
they are being made
appointed through
the incorporation
methods(Simutina,20
20).
 Unincorporated
association: These
are mainly the
 These usually
focus on the
social
working and
cost for the
public trust
and welfare of
the society.
 It focus on
the
fundraising
and also on
implementati
on of
dependent
rights.

specify the
different interest.
activities which
cover of the
members through
wished Association
used to a mountain
generation of
benefits for the
public and also for
advancement.
Evaluation of various sources of finance that is available for business start- up together with its
pros and cons.
In order to raise the funds UK thereby have some various sources which are illustrated there
under:
 Venture capital: These are mainly where the investor used to see the talent of the
business practices and the workers and try to invest in that business in an independent
method by raising the finance and skills. These are the capital gains and advancement for
the business areas.
Strength
 These led out to expand the business as
investor used to invest on the money as
by making a firm believer and
maintaining the growth.
Weakness
 As when the fund is being raised it
helps out to maintain the equity but as
the organisation used to gain the
business practices.
 Bank loans: When the companies used to start up any bank areas in independent areas
with an active strategies and practices of market it helps out to implement the practice of
payment through the fixed term of loans and also the loans are being provided by the
bank (Hannibal,and Knight,2018).

Strength
 These are mainly in the method as it not
helps out to make the rules and it helps
out to gate get the money in
advancement and also to spend the
money for regular business practices.
Weakness
 There should be maintained a monthly
instalment for all the payments that are
to be taken from the bank as there is a
reach of cash flow in the bank
processes.
 Angel investors: It provides out the business practices which usually gained experience
in capital advancement and exchange of the business practices as it helps to provide the
connection with the growth and start up a business.
Strength
 They usually guide the enterprise notes
regarding the business interventions
and also towards the success and
growth regarding to the decision
implementation and risk taking.
Weakness
 All the control in the business is being
carried out as excessive amount has
been given then there implemented too
much involvement of the investors.
QUESTION 2
Three different types of sectors which operate within the UK economy and the difference
between all. Comment on their value in UK economy.
For the advancement and increasing the business practises there are different sectors
which usually helps out to serve the expansion of business by providing the various products and
provides out the input and engagement of the various output areas of values of production in the
business which are as mentioned there under:
 Primary sector: All these are mainly the extraction business which used to focus on the
Raw Material and all the resources through which they try to maintain the renewable
resources like fish, wind power and the non-renewable resources which deals with the
coal, oil etc. Here the people who are being involved in the business focus on the

advancement and employment and also deal with the raw material sectors they are like
fishing, farming,mining etc. Primary sources are the minimum an important sources as
these are mainly being the raw material which is being extracted and all such business
practices which usually carry out the extraction and the core business practices in which
the renewable and a non-renewable advancement of the business has been carried out are
being known as the primary sector and these are mainly been taken as an earlier time
practises. (Mahmood, and et. al.,2017).
 Secondary sector: This mainly turns out all the raw materials into finished goods that are
being extracted with the help of labour work. It provides out all the facilities through
which finished goods are being made wth the help of extensive workforce. This usually
cover out the manufacturing areas and process. All the secondary sources used to deal
with the Finish goods and products and try to maintain and develop a product through the
raw materials that are being advance from the primary sector provides out use amount of
labourers and the industrial equipment through which they can turn off the course into
different aspects. All such needs of workforce and a talented equipments and skilled
workers who used to provide a proper dealing and implementation of programs through
which the secondary sectors can thereby be enhanced. For example Jaguar an automobile
company covered in the secondary sector.
 Teritary sector: These are mainly the intangible aspects through which all the different
skills And business are being covered there like hospitality, finance, banking,
transportation etc. These are the most upcoming and the trending methods and applicable
area which has been used by the companies. All such business used to implies out certain
kinds of sectors through which the production and advancement can be analysed. It does
not require any kind of hard working labour on any areas but it will work on the
technological advancement and the industrial aspects through which the automatic
machines and heavy equipment facilities are being given for the company and they try to
outgrow the better facilities through which they can maintain the upcoming challenges at
the growth for the companies. For instance Tesco Plc, Asda, Barclays are some of the
examples of the sector.
Basis Primary Secondary Tertiary
Meaning This factor used to It provides out the It usually cover all the