Bellwork Who owns Newcastle United? Who owns Greggs? Who owns Topshop? Who owns Eric Snowdon? Learning Outcomes By the end of the lesson you will be able to… - know the five main types of business ownership - name examples of different types of ownership - explain the benefits and drawbacks of each type of ownership Different types of business ownership Research Task Your task is to find out the following… What is a sole trader, partnership, limited company and social enterprise? What types of business are typically owned in this way? You must present your work in the form of a guide / case study looking at each type of business. Success Criteria What will a quality guide look like? - - - - Review 1 Bellwork Would you enjoy working in a partnership? Sole trader pros and cons Research Task Your task is to find out the following… What are the advantages and disadvantages of each type of ownership? A key term you need to understand is limited/unlimited liability You must add this information to your guide / case study looking at each type of business. Deidre the famous Sun problem page columnist has been sacked from her job due to some pretty poor advice she has been giving to the readers lately. You have been employed as her replacement and Friday has now been changed to a Business problem page, but luckily you are an expert in it!!! Below are four letters you have received. Read through each letter and recommend a type of business along with outlining the advantages and disadvantages of it. Dear Deidre, I’m so confused! I am looking to go into business with my best friend and share all the risk and profits. We don’t have a massive amount of cash and don’t want the set up to be complicated by legal issues. Can you help us? Dear Deidre, myself and four friends are thinking of setting up a business but have some concerns. We want to invite other potential shareholders to invest in the business but don’t want to lose our houses and cars if things go wrong! Any advice? Dear Deidre, I presently own a large ltd company but want to raise more money to fund future expansion. What do you think my best option is? Dear Deidre, I want to set up a small sandwich shop in Gateshead. I have secured a loan from the bank and want to make all the decisions myself. What do you think? Review 1 Why is a sole trader like… Review 2 Why is a Partnership like Del and Rodney?
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