Business organisations in the private sector

Within the UK economy all businesses fall into one of three sectors. * Voluntary – This is sector where non-profit making organisations operate. The aim of businesses within this sector is not to make a profit but to carry out charitable objectives. An example of a business within this sector is the RSPCA who provide shelter and new homes for animals. * Private Sector – The businesses operating within the private sector of our economy are owned by private individuals and shareholders.
Business within this sector is market driven, where companies seek to maximise profit by acting in response to changes in the demand of consumers. * Public Sector – The public sector of the UK economy is where you will find the public, government and local authority funded business. An example of a public sector business is the publicly funded BBC who provide television and radio broadcasts to the nation. The owner of a sole trader business is the individual who owns and operates the business.
Although there may be additional staff the owner is the only person who benefits from the businesses financial success or bears the responsibility of failure. The formation of a sole trader business is the simplest formation of all. The law does not differentiate between the business and the owner therefore, the owner has unlimited liability. This means that the owner himself is liable to lose everything he has if the business incurs such debts. If insufficient funds to clear the debt can be raised the individual will be made bankrupt.

A sole-trader business can operate in both the primary and secondary sectors of the economy. An example within the primary sector is a farmer who owns and runs a farm or a fisherman that owns his own boat and sells his catch. Within the secondary sector a sole trader may be a mechanic or anybody who’s business deals with the manufacture of a product. The organisation and control of a sole trader business is ultimately the responsibility of the business owner.
However it is likely that a sole trader will want to outsource certain aspects of the financial side to external provides. This may be appointing an accountant to provide bookkeeping and tax advice. The primary objective of a sole trader is to survive. In order to achieve this objective the business will aim to provide profit by increasing sales and keep production cost to a minimum. An example of this is a farmer purchasing machinery that will enable him to achieve a higher level of output and work more time efficiently. Build a strong costumer base.

Order a unique copy of this paper
(550 words)

Approximate price: $22

Basic features
  • Free title page and bibliography
  • Unlimited revisions
  • Plagiarism-free guarantee
  • Money-back guarantee
  • 24/7 support
On-demand options
  • Writer’s samples
  • Part-by-part delivery
  • Overnight delivery
  • Copies of used sources
  • Expert Proofreading
Paper format
  • 275 words per page
  • 12 pt Arial/Times New Roman
  • Double line spacing
  • Any citation style (APA, MLA, Chicago/Turabian, Harvard)

Our guarantees

At Solution Essays, we are determined to deliver high-quality papers to our clients at a fair price. To ensure this happens effectively, we have developed 5 beneficial guarantees. This guarantees will ensure you enjoy using our website which is secure and easy to use.

Money-back guarantee

Most companies do not offer a money-back guarantee but with Solution Essays, it’s either a quality paper or your money back. Our customers are assured of high-quality papers and thus there are very rare cases of refund requests due to quality concern.

Read more

Zero-plagiarism guarantee

All our papers are written from scratch and according to your specific paper instructions. This minimizes any chance of plagiarism. The papers are also passed through a plagiarism-detecting software thus ruling out any chance of plagiarism.

Read more

Free-revision policy

We offer free revisions in all orders delivered as long as there is no alteration in the initial order instruction. We will revise your paper until you are fully satisfied with the order delivered to you.

Read more

Privacy policy

All data on our website is stored as per international data protection rules. This ensures that any personal data you share with us is stored safely. We never share your personal data with third parties without your consent.

Read more

Fair-cooperation guarantee

Ordering and sending money to us is an indication that you are purchasing our products and services. To have business talks laid out in the official language, you can check on our terms and conditions and get more information about this.

Read more

Calculate the price of your order

550 words
We'll send you the first draft for approval by September 11, 2018 at 10:52 AM
Total price:
$26
The price is based on these factors:
Academic level
Number of pages
Urgency
Order your essay today and save 20% with the discount code: LEMONADEPlace Order