Business structures PS (17-39) Farquharson p.18 primary, secondary and tertiary sector businesses Stimpson p.6 2&3 the public and private sectors main features of different types of legal structure, including ability to raise finance appropriateness of legal structure: sole trader, partnership, private limited companies, public limited companies, franchises, co-operatives, joint ventures concept of limited liability and its importance problems resulting from changing from one legal structure to another Syllabus Topic Work to be covered (Objectives Reference texts 1. Business Size of business PS (41-55) Farquharson p.42-43 and its different methods of measuring the size of a business (profit is not an acceptable Stimpson p.12-13 4 environment measure of business size) advantages and disadvantages of being a small business strengths and weaknesses of family businesses the importance of small businesses and their role in the economy the role of small businesses as part of the industry structure in some industries why and how a business might grow internally
2&3 Business structures primary, secondary and tertiary sector businesses the public and private sectors main features of different types of legal structure, including ability to raise finance appropriateness of legal structure: sole trader, partnership, private limited companies, public limited companies, franchises, co-operatives, joint ventures concept of limited liability and its importance problems resulting from changing from one legal structure to another PS (17-39) Farquharson p.18 Stimpson p.6 Syllabus Topic Work to be covered (Objectives Reference texts 1. Business and its environment 4 Size of business different methods of measuring the size of a business (profit is not an acceptable measure of business size) advantages and disadvantages of being a small business strengths and weaknesses of family businesses the importance of small businesses and their role in the economy the role of small businesses as part of the industry structure in some industries why and how a business might grow internally PS (41-55) Farquharson p.42-43 Stimpson p.12-13