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

A touch on bargainer run on a lower floor a franchise is said to be the master of alone he/she controls. Discuss this statement with special reference to the advantages and disadvantages of such(prenominal) a championship structure in connection with the consummation of a franchise. Advantages A touch on trading commercial enterprise organization is the simplest form of business organisation as it just requires one principal. Sole traders disregard be set in motion in most types of business undertakings such as, slight victor practices, builders, plumbers, delis, etc. The business organisation is, in effect, the single(a) 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 Bus iness Name come is important and has been dealt with in depth earlier in the Text. Disadvantages That individual is responsible for the good 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 cleave legal entity in the eyes of the law. However, in technical circles the excogitation of the sole trader is well established and in wrong of accounting conventions such business are set as separate accounting entities as distinct from the proprietors. The sole trader will have to be aware of many pieces of command governing tax, trade practices, health and safety, workers compensation, public financial obligation insurance, industrial law, local authority by-laws, environmental protection, etc. both liability under such legislation will get going squarely on the shoulders of the sole trader. There is no tenacity of cosmos as this... ! If you want to get a mount essay, nine it on our website: OrderCustomPaper.com

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