Questions you would like to ask
Today we will begin studying ____________. What are the questions you would like answered.
Noun Play
_________ is like (a) ________ because….
First blank is for the topic, concept etc.
Second blank is for the random noun.
e.g. Communication is like driving because…
Private Sector
Unincorporated Incorporated
Sole Trader Private Ltd Company
Partnership Public Limited Company
Sole Trader
Easy, quick and cheap to set upAbsolute controlFlexibleButOnly one source of financeUnlimited liabilityLimited lifespanHigh degree of risk and responsibility
Partnerships
Quick and cheap to set upMultiple sources of financeShared responsibilityAdditional skills availableButMay result in compromise and conflictUnlimited liabilityProfits sharedLimited lifespan
Forming a Limited Company
The process of Incorporation:Registration with the Registrar of Companies
Memorandum of Association – name, purpose, size, etc.
Article of Association – internal management structure, rights of shareholders, etc.
The business becomes a separate legal entity with its own legal ‘personality’
Risk is limited to the amount of money invested
Private Limited Company
Multiple sources of financeLimited liabilityFormal decision-making structureButPotential loss of controlSet-up costsAuditing and AGM requiredCorporation tax to pay
Conversion to a plchttp://news.bbc.co.uk/1/hi/business/3913351.stm
Private Limited companies with share capital of more than £50,000 can convert
Companies are ‘floated’ on the stock market
Any member of the public can buy sharesThis opens up new sources of finance for
further expansionFloatation can be an expensive process
Public Limited Companies
Unlimited sources of finance
ButHigh set-up costsAuditing & publication of accounts requiredCorporation tax to payLoss of control (takeover threat)Likely to become highly focussed on short-term
profitDivorce of ownership and control
Factors Affecting Choice of Structure
Ownership & ControlLiabilityImageObjectivesCost
SetupAdministrationTaxation
Alternative Structures
Cooperative
Public Ownership
Not-for-profit organisations:MutualsCharitiesTrusts
Questions you would like to ask
e.g.
Today we have been studying_______________.
Think of 1 questions to ask other people in the class about today’s lesson.
PLENAPLENARY RY
Freeze Frame
Students have to produce a freeze-frame showing one aspect of their learning.
E.G. A communication method or a finance or a sector of the economy
Spell a key word Spell a key word to your friend to your friend
using sign using sign language… language…
Exam Question
Write an exam question based on your learning today. Then, swap books Write an exam question based on your learning today. Then, swap books and answer someone else’s question.and answer someone else’s question.
Answer PLAN: Intro – define key word Explain 1 advantage (BLT) Explain 1 disadvantage (BLT) Conclude – I think, however, it depends…
E.g. Discuss whether a bank loan is suitable for business startup .
Start with; Discuss or Evaluate whether or To what extent is _______________________________________________________________________________________________________________________________________ (6m)
3+ connectives 3+ key words
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