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

A touch on dealer run nether a franchise is said to be the master of exclusively he/she controls. Discuss this statement with special reference to the advantages and disadvantages of much(prenominal) a championship structure in connection with the surgical procedure of a franchise. Advantages A touch on trading business organisation organization is the simplest form of business organisation as it just requires one principal. Sole traders plenty be set in motion in most types of business undertakings such as, meek victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the unmarried 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 machine-accessible with fair trading, local authority regulations (if operating out of a residence), tax, etc. The Business N ame come is important and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the total 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 smash legal entity in the eyes of the law.

However, in technical circles the sentiment of the sole trader is well established and in terms of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The s ole trader will have to be aware of many pi! eces of legislating governing tax, trade practices, health and safety, workers compensation, public financial contract insurance, industrial law, local authority by-laws, environmental protection, etc. either liability under such legislation will fire squarely on the shoulders of the sole trader. There is no persistence of cosmos as this... If you want to get a upright essay, nine it on our website: OrderCustomPaper.com

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