E1 Business at Work
The company I will be looking at is Geo-Adams. This is a company that produces meat products such as a variety of pies and sausages. It's quite a large company with factories all over the country, the local ones being Spalding and Ruskington. I will be looking at the one just outside Ruskington. I have decided to do this as during the summer I worked there and I feel that I know the place well enough to obtain any information needed from there. If that fails then there is also a website which I can refer to. Shown below is a picture of the various products produced by Adams. On the right is the brand of the company that is recognised throughout the country.
There are several different types of ownership. Firstly there's a sole trader.
Sole traders are mainly small businesses. Examples of this type of business are Plumbers, Hairdressers, Newsagents and Fishmongers.
This is considered the easiest business to set up as all you need to do is start trading. Here are some advantages and disadvantages of this type of business.
Sole Traders, Advantages
They are really easy to set up, all you need is an idea then you can start your business.
You get to be your own boss, which means that you are the one that makes all the decisions.
You alone decide what happens to any profit made.
Sole Traders, Disadvantages
You have to work long hours, which also means you don't get many holidays either.
You have unlimited liability. This means that if the business goes bust owing ÃÂ£10 million, you may have to sell everything that you own to pay your debts.
Sole traders are unincorporated. The business is not legally separate from its owner. For...