A Brief Note On The Local Business Industry

1451 Words Sep 22nd, 2015 6 Pages
Unit 1
Different business
• Local - Kabin is a local business which is located in Halifax town which is local to where we are from.
• National – Morrison’s which a UK national business is so there are no stores located anywhere else in the world.
• International – Asda/Walmart is an international store which sells everything all around the world.
Describe the 3 different sectors in businesses
• Private – a private company is something that is owned by a private individual. Their main aim is to make a huge profit so they can spend all the money on their selves. The owners have a full decision of who they want to work for them. Most private business usually wants to grow their business to gain a whole lot of profit. For example McDonalds owner is 100% private so all the profit that he makes goes straight to him. Some business also makes relationships with other businesses if this will make them achieve bigger profit.
• Public – public businesses means that their business is not owned by them and shows that it is in fact state owned. The main aim of this sector is to achieve service that the public can also benefit the public more than them. Most businesses that are used in public businesses are mainly paid by the government. For example royal mails make profit however any profit that is made is reinvested again into the business.
• Not for profit – non for profit is organisation such as RSPCA who help put animals in a home and look after them. From doing this it means that…
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