Topic three: Franchising, Joint Ventures, Sole Traders law (business organization)

A touch on monger run to a lower place a franchise is said to be the master of accurately he/she controls. Discuss this statement with special reference to the advantages and disadvantages of such(prenominal) a championship structure in connection with the surgical operation of a franchise. Advantages A touch on trading championship organization is the simplest form of business organisation as it that requires one principal. Sole traders finish be set in motion in most types of business undertakings such as, slender victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the single who is responsible for cathode-ray oscilloscope up, operating and leaving the fix tradership in any appearance he or she please. There is no law relating specifically to furbish up traders. They are, however, subject to laws connected with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business Name co me is important and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the entire decision making and is in sole control. Funding can be difficult (often by way of a mortgage over property) and the sole trader is personally apt(p) for all the debts of the business. A sole trader is not regarded as a expose legal entity in the eyes of the law.

However, in technical circles the impression of the sole trader is well established and in harm of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The sole tr ader will have to be aware of many pieces o! f legislating governing tax, trade practices, health and safety, workers compensation, public financial province insurance, industrial law, local authority by-laws, environmental protection, etc. any liability under such legislation will cash in ones chips squarely on the shoulders of the sole trader. There is no persistency of cosmos as this... If you want to get a wide-eyed essay, nine it on our website: OrderCustomPaper.com

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