Owners may manage their businesses themselves, or employ managers to do so for them. Whether they are owners or employees, managers administer three primary components of the business' value: financial resources, capital (tangible resources), and human resources. These resources are administered in at least six functional areas: legal contracting, manufacturing or service production, marketing, accounting, financing, and human resources.
Having a business name does not separate the business entity from the owner, which means that the owner of the business is responsible and liable for debts incurred by the business. If the business acquires debts, the creditors can go after the owner's personal possessions. A business structure does not allow for corporate tax rates. The proprietor is personally taxed on all income from the business.
"Going public" through a process known as an initial public offering (IPO) means that part of the business will be owned by members of the public. This requires the organization as a distinct entity, to disclose information to the public, and adhering to a tighter set of laws and procedures. Most public entities are corporations that have sold shares, but increasingly there are also public LLC's that sell units (sometimes also called shares), and other more exotic entities as well, such as, for example, real estate investment trusts in the USA, and unit trusts in the UK. A general partnership cannot "go public".
Limited liability companies (LLC), limited liability partnerships, and other specific types of business organization protect their owners or shareholders from business failure by doing business under a separate legal entity with certain legal protections. In contrast, unincorporated businesses or persons working on their own are usually not as protected.
Manufacturing is the production of merchandise for use or sale using labour and machines, tools, chemical and biological processing, or formulation. The term may refer to a range of human activity, from handicraft to high tech, but is most commonly applied to industrial production, in which raw materials are transformed into finished goods on a large scale.
Charter corporations: Before the passing of modern companies legislation, these were the only types of companies. Now they are relatively rare, except for very old companies that still survive (of which there are still many, particularly many British banks), or modern societies that fulfill a quasi-regulatory function (for example, the Bank of England is a corporation formed by a modern charter).
A company limited by guarantee: Commonly used where companies are formed for noncommercial purposes, such as clubs or charities. The members guarantee the payment of certain (usually nominal) amounts if the company goes into insolvent liquidation, but otherwise, they have no economic rights in relation to the company. This type of company is common in England. A company limited by guarantee may be with or without having share capital.
vi → profitieren (from, by von); (from experience also) → Nutzen ziehen (from aus); who will benefit from that? → wem wird das nützen?; but how do we benefit? → aber was nützt das uns?; he would benefit from a week off → eine Woche Urlaub würde ihm guttun; I think you’ll benefit from the experience → ich glaube, diese Erfahrung wird Ihnen nützlich sein or von Nutzen sein; a cure from which many have benefited → eine Behandlung, die schon manchem geholfen hat
If you work while receiving regular benefits and have served your waiting period, you will be able to keep 50 cents of your EI benefits for every dollar you earn, up to 90 percent of the weekly insurable earnings used to calculate your EI benefit amount. This 90 percent amount is called the earnings threshold. If you earn any money above this threshold, we will deduct it dollar for dollar from your benefits.
Marketing is defined by the American Marketing Association as "the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." The term developed from the original meaning which referred literally to going to a market to buy or sell goods or services. Marketing tactics include advertising as well as determining product pricing.
There are a number of opportunities for businesses to secure short-term leases in vacant commercial premises through the city. Take a space for one week, one month or one year and take advantage of the flexibility of a short-term commitment that enables you to experience a new location, trial a product, test the marketplace or gain exposure for your business.
In legal parlance, the owners of a company are normally referred to as the "members". In a company limited or unlimited by shares (formed or incorporated with a share capital), this will be the shareholders. In a company limited by guarantee, this will be the guarantors. Some offshore jurisdictions have created special forms of offshore company in a bid to attract business for their jurisdictions. Examples include "segregated portfolio companies" and restricted purpose companies.
(= advantage) → Vorteil m; (= profit) → Nutzen m, → Gewinn m; to derive or get benefit from something → aus etw Nutzen ziehen; for the benefit of his family/the poor → zum Wohl or für das Wohl seiner Familie/der Armen; for the benefit of your health → Ihrer Gesundheit zuliebe, um Ihrer Gesundheit willen; for your benefit → Ihretwegen, um Ihretwillen (geh); this money is for the benefit of the blind → dieses Geld kommt den Blinden zugute; it is for his benefit that this was done → das ist seinetwegen geschehen; to give somebody the benefit of the doubt → im Zweifelsfall zu jds Gunsten entscheiden; we should give him the benefit of the doubt → wir sollten das zu seinen Gunsten auslegen
In recent decades, states modeled some of their assets and enterprises after business enterprises. In 2003, for example, the People's Republic of China modeled 80% of its state-owned enterprises on a company-type management system. Many state institutions and enterprises in China and Russia have transformed into joint-stock companies, with part of their shares being listed on public stock markets.