Unit 22 Flashcards
Types of businesses
Private
Public
Voluntary
Private business
A business that is mainly aimed at looking for a profit, and is run by the owner
Public business
A business run by the government that offers products/services to a different range of people
Voluntary business
A business that does not look for any profit and is just to get people socialising
Sole trader
A business run by one person
Partnership
A business run by two or more people
Private limited company (ltd)
Smaller businesses with shareholders that buy shares of the company
Public limited company (plc)
Larger businesses with shares offered for sale on the stock market
Co-operative
A business owned and run by its own members
Local authority
Deliver public services, and operate their facilities as co-operatives
Scope of businesses
Local
National
International
Multi-national
Size of businesses
Micro
Small
Medium
Large
Aims of a business
Increase participation
Raise awareness
Meet current trends
Aims for a private sector businesses
Strong customer service Break-even Growth Market leadership Diversification Survival Service provision Making profits
Why have sports businesses grown?
TV licensing
Fitness is booming
Increased demands for sports apparel
Sports clubs branding and merchandise