Types of business organisation

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Presentation transcript:

Types of business organisation Brunei Darussalam business society is made up of many different types of business organisations. Legal methods

Sole Trader A sole trader is a business that is owned and managed by one person. Examples of sole-trader businesses are plumbers, hairdressers, small shops (Road Side Food & Fruit Stalls).

Partnership A partnership is a business, which usually has 2 to 20 people. These people (partners) own and control the business. In some partnerships, some partners can be “Sleeping Partners” In a partnership a legal document called a Partnership Agreement or “A Deed” is drawn up. This sets out how profits are to be shared.

Private limited company A private limited company, which is owned by shareholders and is run by a director or Board of Directors. Private Limited Companies tend to be owned by families who all own a certain number of shares. The shares are NOT AVAILABLE for purchase on the Stock Exchange. To operate as a private limited company, you must register with Companies registrar (M.O Law of NBD) and complete 2 documents Memorandum of Association and Articles of Association, which set out the details of the company, the aims of the company and how it will be run and financed.

Public limited company A public limited company (plc) is usually a much larger company than a private limited company. It sells shares to the general public through the Stock Exchange. The owners often lose control over decisions because it is the shareholders who appoint the Board of Directors to oversee the business.

Franchise A franchise is a right granted to an individual or group to market a company's goods or services within a certain territory or location. Some examples of today's popular franchises in Brunei are McDonald's, Pizza Hut, KFC, Face Shop, Body Shop, Dunkin' Donuts, and Bata etc. Franchisee and Franchisor