Lesson 1 - 12 Jan 2010 Basic concepts Private Sector VS Public Types of Business Ownership The One Show

1. Tuesday, 12 January 2010Objectives Sit with someone who is on the other paper to you Mock results poor for some students People struggling with the basics School boy errors 15 weeks to the exam

2. BBC

3. Library

4. Subway

5. Barclays Bank PLC

6. Shep’s Sheep Shearing LTD

7. ASDA PLC

8. Debden Park High School

9. Forest Independent School

10. 54321... 54321...... 5 – Types of business ownership 4 – Objectives of a business 3 – Reasons a business would want to grow 2 – Reasons the EU helps a business 1 – Economy of scale

11. Types of business ownership ST – A sole trader is owned by one person. They have unlimited liability. An example of this would be Tracey’s Hairdresser. Partnership - A business owned by 2 to 20 people. They have unlimited liability unless they have LTD after their name. An example of a partnership would be the estate agent Bestow and Eves. LTD – A private limited company. They have limited liability. Shares are not openly traded. An example of this is Harrods LTD. PLC Franchise Coop 3 Marks. One for definition. One for extra info One for example

12. The difference between a private business and a public business is that a public business is owned by the Govt. A private is owned by specific people. The difference between a PLC and a public sector business is when shareholders can buy shares in a business. Public sector is owned by the Govt. E.g..