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The Internal Organisation Of A Business.

573 words - 2 pages

The Internal Organisation of A BusinessThe way in which a business is run is known as the internal organisation of a business. This can be a number of ways, including partnerships, sole proprietorships, and public or private limited companies. Since I am going to be setting up such a small company, I will need to set up as either a partnership or a sole proprietorship.A partnership is where two or more people run a business together. They usually do not want to hold total responsibility for the business whilst still being able to do their own work.A sole trader is a person that runs a business alone. They have total control of the business and often do not even have any employees.To help me choose which, I am going to look at the advantages and disadvantages of each of the above.PartnershipAdvantagesDisadvantagesResponsibility of running a business can be shared with another person. One partners strengths can make up for the weaknesses of anotherPeople may only want to do certain jobs, they wouldn't want to do the boring jobs and this may cause tensionMore people contributing money towards the business means not as much needs to be taken from just one person as in a sole proprietorshipThe distribution of the companies profits can cause problems, as one partner may feel that they deserve more than anotherSomebody to consult about decisions so that you are less likely to make wrong decisionsDecisions may cause arguments because the partners may disagree over which decision to makeYou don't need to work as many hours, and you can have more holidays than in a sole proprietorship as there is another person to share the workload...

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