LECTURE NOTES UNIT 1 Business and Entrepreneurship Education (BEE)- GRADE 9 Teacher: Mrs Ranjeeta AWOTAR Unit 1Forms of Business Organizations Learning Objectives Define a Business Organisation Identify the various types of Business Organisation Identify the factors differentiating Business Organisations Forms of Business Organisation Definition A business organization is an enterprise which provides goods and/ or services to consumers usually with the aim of making profits Forms of Business o Sole Trader organisations o Partnership o Company o Franchise o Cooperatives o Multinationals Sole Trader A sole Trader is a business which is owned and controlled by one person Partnership A Partnership is an organisation which is owned and controlled by more than one partner. Each type of Business Organisation differs from each other because they have different features in terms of Sole Trader Partnership Company Cooperative Franchise Ownership One 2-20 Shareholders Members Franchisee Partner partners Raising of Only one Capital Shares are Shares sold Franchisee Capital person to invested by issued to members invest partners Risks One person Partners Limited risk- Limited risk Few bears all share risk limited chances of risks alone liability failure Sharing of Only one Partners Dividends Surplus A % profit profits and person share are paid to shared goes to losses gets all profits and shareholders among franchisor profits and losses members as losses dividend Learning Objectives Define Company Identify the basic questions before starting a company Define the types of company Explain how to register a c company Explain the features of a company Explain the Advantages and Disadvantages of a company. Definition A company is an incorporated business organization which is owned by its shareholders Capital It raises capital by selling shares to shareholders Incorporation Ltd Examples Homework Companies are incorporated meaning they should be registered with the Registrar of Companies Companies are easily identified Coca Cola Co. Ltd Manchester United Co Ltd Marks & Spencer Co. Ltd Write down names of 5 companies in your region 1....................................................................... 2....................................................................... 3........................................................................ 4......................................................................... 5.......................................................................... Procedures to set up a Company Legal Procedures •Application Form •Certificate of Incorporation •Company's Act •Memorandum of Association Owners •Shareholders Control/ Manage •Shareholders to elect Board of Directors •Directors to run and control business Risks and Return Registration Process Documents Required •Return for Shareholders is dividend (profit) •Directors to pay shareholders •Directors are paid salary •Application to Registrar of Companies •Certificate of incorporation •Memorandum of Association •Article od Association Important Terms Company's Act • It is a legal document which outlines the laws and regulations to set up a company Chapter Title Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Section Title Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Donec sed malesuada orci. Vestibulum faucibus nulla eu est venenatis egestas. Mauris congue dolor et dolor commodo gravida. Fusce eu suscipit lacus, id egestas nisi. Ut nec dapibus sapien, id cursus risus. Nullam porttitor, mauris sit amet laoreet ultricies, nulla nibh iaculis tortor, eu congue nisi justo in lorem. Pellentesque vel congue ante. Suspendisse pretium sem est, a tincidunt nunc dictum a. In mattis arcu dui, non pretium risus convallis quis. Morbi ornare condimentum pharetra. Vestibulum vitae posuere risus, at viverra metus. Quisque congue, ligula at vulputate blandit, urna ante cursus ligula, bibendum blandit velit nunc nec felis. ► Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. ► Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. ► Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Donec sed malesuada orci. Vestibulum faucibus nulla eu est venenatis egestas. Mauris congue dolor et dolor commodo gravida. Fusce eu suscipit lacus, id egestas nisi. Section Title Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Blurb or Extract here, Lorem ipsum suas dolor sit amet, cu option vim possim aperiri. Lorem ipsum dolor sit amet, Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Section Title Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Donec sed malesuada orci. Vestibulum faucibus nulla eu est venenatis egestas. Mauris congue dolor et dolor commodo gravida. Blurb or Extract here, Lorem ipsum suas dolor sit amet, cu option tritani ius possim aperiri. Lorem ipsum dolor sit amet, Image Caption: Lorem ipsum dolor sit amet, consectetur adipiscing elit. Fusce eu suscipit lacus, id egestas nisi. Ut nec dapibus sapien, id cursus risus. Nullam porttitor, mauris sit amet laoreet ultricies, nulla nibh iaculis tortor, eu congue nisi justo in lorem. Pellentesque vel congue ante. Suspendisse pretium sem est, a tincidunt nunc dictum a. In mattis arcu dui, non pretium risus convallis quis. Morbi ornare condimentum pharetra. Vestibulum vitae posuere risus, at viverra metus. Quisque congue, ligula at vulputate blandit, urna ante cursus ligula, bibendum blandit velit nunc nec felis. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Donec sed malesuada orci. Vestibulum faucibus nulla eu est venenatis egestas. Mauris congue dolor et dolor commodo gravida. Fusce eu suscipit lacus, id egestas nisi. Ut nec dapibus sapien, id cursus risus. Section Title Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. fdfd Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Cras ornare turpis at ligula posuere, sit amet accumsan neque lobortis. Maecenas mattis risus ligula, sed ullamcorper nunc efficitur sed. Praesent venenatis quam tortor, id viverra nunc rutrum a. Maecenas malesuada ultricies sapien sit amet pharetra. Nunc tempus, risus sodales sodales hendrerit, arcu dolor commodo libero, a sollicitudin quam nulla quis lectus. In at porta mauris. Maecenas quis leo ipsum. Pellentesque blandit libero quis justo auctor, vitae faucibus ligula scelerisque. Nunc pulvinar pulvinar augue dapibus blandit. Cras ac aliquam sapien. Fusce consectetur est sed ultrices tincidunt. Ut eget ex id odio vulputate interdum ac ut nibh. Donec tempus dui quam, non hendrerit lectus convallis sed. Image Caption: Lorem ipsum dolor sit amet, consectetur adipiscing elit. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Cras ornare turpis at ligula posuere, sit amet accumsan neque lobortis. Maecenas mattis risus ligula, sed ullamcorper nunc efficitur sed. Praesent venenatis quam tortor, id viverra nunc rutrum a. Maecenas malesuada ultricies sapien sit amet pharetra. Nunc tempus, risus sodales sodales hendrerit, arcu dolor commodo libero, a sollicitudin quam nulla quis lectus. In at porta mauris. Maecenas quis leo ipsum. Pellentesque blandit libero quis justo auctor, vitae faucibus ligula scelerisque. Nunc pulvinar pulvinar augue dapibus blandit. Cras ac aliquam sapien. Fusce consectetur est sed ultrices tincidunt. Ut eget ex id odio vulputate interdum ac ut nibh. Donec tempus dui quam, non hendrerit lectus convallis sed. Image Caption: Lorem ipsum dolor sit amet, consectetur adipiscing elit. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia. Ut fermentum a magna ut eleifend. Integer convallis suscipit ante eu varius. Morbi a purus dolor. Suspendisse sit amet ipsum finibus justo viverra blandit. Ut congue quis tortor eget sodales. Nulla a erat eget nunc hendrerit ultrices eu nec nulla. Donec viverra leo aliquet, auctor quam id, convallis orci. Sed in molestie est. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Etiam aliquet eu mi quis lacinia.