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Business Administration Paper

Shares cannot be issued to the general public. .
             Unlimited Companies.
             Must register under the Companies Act, is similar to partnerships but do not enjoy the benefits of limited liability. Capital is provided by shareholders.
             Companies limited by guarantee – usually non-profit making like clubs registered under the Companies Act and liability is limited to the amount each individual member invests if the company gets into financial difficulty.
             State Bodies.
             Entirely government funded companies in Ireland.
             Semi-State Bodies.
             Companies partly funded by the government.
             Friendly Societies.
             These organisations are registered with the Registrar of Friendly Societies and are mainly made up of co-operative societies and group and community water schemes and enterprises.
             Charities.
             Non-profit organisations.
             Caring Groups.
             Non-profit organisations that also fall under charities but also offer counselling and advice from trained professionals. They rely heavily on donations.
             Sole Trader: This type of business does not have company status, it is owned by one person who receives all the profits and incurs the liabilities personally.
             The organisation I have chosen 'The Catwalk' is under the Sole Trader category. There is only one owner of the business Claire-Anne Alley and there are no shareholders. The proprietor receives 100% of the profits and she is also liable for all the debts of the business. .
             This organisation resides in a busy town and is situated in the very centre of it. The proprietor is the only senior member of staff within this business and all the decisions do lay on her shoulders. Although she receives all the profit, she also has had to put up the full capital for the business herself. The owner has unlimited liability for debts as there's no legal distinction between private and business assets. Retaining high-caliber employees can be difficult for someone who is a sole trader. The owner has maximum privacy as they do not need to share information with any partner of shareholder.


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