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UNIT 1 THE BUSINESS AT WORK THE BOOTS COMPANY 1 BUSINESS CLASSIFICATION 1 Introduction The Boots Company is a business found in the Private Sector of which it is a company Businesses in the Private Sector are not owned by the Government but by a private owner Within the private sector there are two main types of company which are similar but in many ways obviously different Boots is a Public Limited Company PLC and not a Private Limited Company Ltd Being a PLC enables The Boots Company to quote shares on the Stock Exchange hence these shares are available to be purchased by the public bankers prospective investors and competitors therefore establishing the shareholders as the company owners This is seen as beneficial to the company as it allows capital to be easily raised in comparison to Ltd companies ie a business without shares being available to the public and so the main difference between a PLC and an Ltd is the source of financial support 2 Identity Public Limited Company The main similarities between a PLC and a Ltd is the liability of the owners shareholders and their control they have over the business Becoming a company means that you reduce your liability and you are classed as having Limited liability This means that the owner is liable to pay out the value invested by the public in the case of debt On the other hand directors who control the company are not all reliable for the debts they may create Before it can start in Business or borrow money a PLC must satisfy Companies House that at least 50000 worth of shares have been issued and 12500 of that amount must be paid directly into the company It will then receive an authorization to commence business and borrow Within a PLC there is also a minimum of 2 owners Companies are required to act by
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