The different types of buisness in the UK Essay Example | Topics and Well Written Essays - 750 words

The different types of buisness in the UK - Essay Example Else, they do not run the day-to day operations of their businesses. The latter approach has the owners of the businesses simply as shareholders. In this case they own business shares. Salaried directors see to the operations of the business and further, still the organisations of businesses may be publicly run by the state. There are two major sectors in the U.K; private and public sectors. However, most business organisations are owned privately in U.K .The individual owners are usually referred to as entrepreneurs and all the risks associated with running the businesses lay on these individuals. Often, the most popular types of private-business ownerships include; partnerships, sole proprietors, public and private limited companies. There are also less common kinds of business that also fall under this category of private businesses (These are; cooperatives and franchises). Partnerships have two or more persons being in a joint ownership of the business organisation. Sole proprietorship, on the other hand is the smallest business type and it’s owned and run by a single person. Public limited companies is the biggest type of privately owned organisation and private limited companies consist of the most minute incorporate business enterprises. Cooperatives emanate from a group of persons together operating as well as sharing gains and the losses of the enterprise. Franchises refer to a situation where big business organisations let a trader to dispose their commodities and utilise their name at a cost and also a share of gains. ( Carysforth, et al, 2000 p 124) The public sector is a constitution of local and central governments. Here the government owns these businesses. The last two decades have had the magnitude of government-business ownership shrinking a great deal. As a matter of fact there are very few kinds that can be cited (For example; the Royal