Types of ownership Essay Example for Free

Types of avowership EssayMy business will be a sole proprietorship because I will be in charge of the business but I would need to employ people to help me run the business. As I decide what happens to the profits I would pay for wages and then spend the rest on repairs and debts until I had paid off the indispensable debts and loans. I have chosen a sole proprietorship because I get to be my own boss and if I am deciding what happens to the profit I know it will be washed-out in connection with the business . The disadvantages wont affect me because I have employed people t work for me therefore I wont have to work long hours .All skate sets around the uk ar unincorporated because people ride skateparks at their own risk so if they injure themselves it is there own fault. The only way I could get prosecuted is if they are injured due to bad maintenance of the park i. e. somebody hurting themselves on a nail sticking out of a ramp. Cash eat is important because if you have a poor cash range your business goes bankrupt. A cash coalesce forecast enables you to see how frequently money is coming into the business and how much is coming in and how much money is going out.If to much money is going out and not enough is coming in you can use the spreadsheet to see what needs to be changed. If you have a poor cash flow there is a lack of working capital. This can result in a lot of former(a) problems like staff not getting paid on time and if loans arent repaid firms may take sound action against this and reposes things making the business unable to sell products. I would not have good facilities for anybody down the stairs the age of 12 with no great understanding of the sports or ability to do the sport