Business Description:
The local business I have chosen to do for my presentation is Marinos Fish Bar, it is a family business which allows them to have a larger profit. Marinos Fish Bar is a well-known fish and chip shop based in the Tunbridge Wells area but has expanded out to places such as Sidcup and Canterbury. They have a family of 3 or 4 members so they get more money each so it is much better than having 5 or 6 people running the business because sharing the profits will cause having less money each. Their company is a limited liability company for good reason as if they get bankrupt or go out of business they won't go into debt themselves. They obviously want to be protected from the start as when it was founded ⦠years ago they made it a LLC. This can easily be described as the best type of company as if it loses any profit the people running the business are not at all responsible, also there aren't actually many levels or employees so it is much easier to keep track of how the business is going and see how close they are to achieving their objectives.
This compared to a company with large levels of workers is extremely more efficient as decisions and keeping track of the business takes much longer and much more effort as it has to be passed over lots of levels of hierarchy. This way the business will last all the way until the family all retire or leave. This means that it can only be abolished by liquidation. Their main motivation is money, so they have a bonus at the end of every month. Their prices may be a little more expensive but the quality is much better...