Before moving towards the types of partnership, it is s important to know, what is partnership? In partnership, probably two or more persons comes together, bring some capital and skills, works together and share the profit and loss in business as per the agreement. As compare to Sole Proprietorship, partnership has more capitals, thus it is big form of business. You need to have a legal contract for starting your business in partnership, which will show you and yours partner rights and duties. Whenever any partner left the business with mutual agreement or not or even died partnership goes ended.
Introduction to Business
Introduction to business is a business education subject in which the basic information about all the matters of business is given to the students. Introduction to business also cover the basic areas of business forms and their features and characteristics. Sole proprietorship, partnership and joint stock company are those forms of business, which is discussed in introduction to business subject. The basic aim of introduction to business is to give an idea to students about business education.
Wholesaler play a vital role for distribution of products and goods between manufacturers and retailers by keeping his own cost down (in his own terms and conditions), and by creating opportunity of lower price merchandise. The key steps which are required to become a good wholesaler are discussed as under:-
Any sort of risk in business is known as business risk. No business is business without risk and business may suffer losses due to break down in machinery, strike by workers, theft of goods, misappropriation of cash etc. The losses in business can also be caused by a fall in demand for the product, rise in the prices of raw material, labor rates my go up, the government my a impose certain restrictions on the business etc. Therefore, business risks, can be defined as “Business risk can be referred to the doubt / worries which can be present concerning the occurrence of some uninvited or bad events”.
“Foreign trade implies the buying and selling of goods and services among different countries across the world”. It may consist of export of goods and imports of goods from abroad. Foreign trade is also known as International Trade.
Sales process steps are the systematic way of getting customers on regular basis. It also allows us to sustain the interest of the customers in the product or service. As we know, salesmanship is highly skilled profession. A person who is to learn the art of inducing prospectus to buy goods which benefits both the seller and the buyer is a most difficult job in modern world. A certain important sales process steps should be followed by a salesperson. I’m sure on the basis of these sales process steps, you may easily get a better results for you and for your business organization.
How to register a company, especially in case of partnership? As we know that an agreement between two or more persons with the aim to start a legal business for earning profit is known as Partnership. The process in which the business name is going to be documented with the registrar of partnership firm under which the firm is carried on through legal entity is known as registration of a firm. It is the main confirmation of the continuation of the business.
There are basically three types of business organizations and for every sort of business organization sources of finance is really important to have. Through these sources of finance, business meets its basic and day to day needs. Sole proprietorship and partnership form of business organization are mostly run on small scale basis. They generally meet their fixed and working capital requirements from their owned capital. It is only the company form of organization, which is run on large scale basis. It requires huge amount of funds to purchase fixed assets, meeting day to day expenses of business and for modernization and replacement of machinery. Let’s discuss the major joint stock company sources of finance in detail.
The route or the path through which product is transferred from the place of the production the final consumers is known as distribution channels. You may transferred goods through both direct and indirect ways. A distribution channels may called direct, when the manufacturer supplies the goods directly to the ultimate consumer and uses no intermediaries. Here the marketing functions are carried out by the manufacturer of product by him. If a manufacturer sells the goods to the consumers through one or more than one middlemen, the channel is called indirect channel of distribution. In indirect channel of distribution, the functions of buying, selling, transporting, storing, are undertaken by the middlemen.
Functions of Warehousing means the wide ranges of activities, which are associated with the physical distribution of goods from end of production line to the final consumers. These activities include purchasing of goods, inventory management, storage, materials handling, protective packing and transportation. Warehousing is concerned with the storing function of good and commodities. Warehousing also refers to all the activities which are connected with the safe keeping of goods until they are needed for consumption. In the words of R.E Murphy, “Warehousing is concerned with storing function in the channel of distribution of goods”.
Business finance refers to money and credit employed in business. Finance is the basic of business. It is required to purchase assets, goods, raw materials and for the other flow of economic activities. Business finance can be defined as “The provision of money at the time when it is needed by a business”.