Business ownership

Investment opportunities

Государственные ценные бумаги, акции частных компаний

Интернациональные коммерческие термины (цель, классификация EXW, CIF,FOB)

Incoterms – set of international rules (drawn by the International Chamber of Commerce) for interpretation of terms in foreign trade, describing duties and responsibilities of seller and buyer.

Aim: to avoid disagreements (resulting from differences in trading practices).

Categories:

- E: goods available to the buyer at the seller's premises (EXW)

- F: seller delivers to carrier appointed by buyer (FCA, FAS, FOB)

- C: seller pays for carriage, has no liability after shipment and dispatch (CFR, CIF, CPT, CIP)

- D: seller bears all costs and risks in shipping goods (DAF, DES, DEQ, DDU, DDP)

EXWorks:

- maximum obligation for buyer (all costs and risks)

- goods ready for col­lection at seller’s factory

- all forms of transport can be used

FOB (Free on Board):

- seller: transportation to the port of shipment, loading costs

- buyer: freight, insur­ance, unloading, transportation to his warehouse

- passing of risk: ship's rail at the port of shipment

CIF (Cost, Insurance and Freight):

- seller: transportation to the port of des­tination, loading costs, freight insurance

- buyer: unloading, transportsation to warehouse

- passing of risk: ship's rail at the port of shipment

Reasons to buy shares and stocks:

(1) steady income fromdividends

(2) long-term capital growth

Government stock or bonds (gilt-edge securities or gilts) – loans to the Government, can be bought at Post Office or through bank or Stock Exchange.

- fixed rate of interest

- repaid after a number of years(dated or undated)

- absoltitely safe (backed by the Goverment)

- no protection against inflation

Local authority bonds – city, town and country councils can issue bonds (borrow money) when they need more income (sold on Stock Exchange or directly to public through Local authority’s finance department)

- secure

- fixed rate of interest

- repayable after a number of years

- usually for а shorter period then Gilts

- slightly higher interest rate

Cоmpаnу shares сan bе bought:

(а)when а firm starts trading оr issues more shares оr

(b) when other investors аге selling their shares

11.Формы собственности. Частное предпринимательство/Партнерство Закрытое акционерное общество, открытое акционерное общество преимущества и недостатки. Порядок регистрации.

1) Sole trader – earliest form of business, owned and managed by one person (hired staff – not proprietors).

Registration in trade register, license, books reflecting the results of business activities.

Advantages:

- easy to set up

- confidential finances

- sole possession of profits

- freedom in decisions

- personal service,can adapt to social needs

Disadvantages:

- unlimited liability(responsible for all debts himself, can be made to sell his posessions)

- limited capital for new projects

- tied to business

2) Partnership (unlimited) – joint property and capital of its members (up to 20 people), profit distributed proportionately to the share of participation, equal and collective responsibility;

(limited or sleeping) –if at least one working partner with unlimited liability,others can invest capital in a firm-they don’t work,but share in profits and losses(but up to the amount they have put in)

Registration: name of 1-2 full members, must not add ‘Ltd.’

Advantages:

- more capital available

- new ideas

- easy to form-no complex legal problems

- sharing of work

- losses shared

- specialization in professional partnerships

Disadvantages:

- limited capital for a large scale business

- disagreements possible

- unlimited liability

- no continuity (part-p breaks up on death, retirement, bankruptcy)

3) Private limited company – number of people (more than 20) invest money by buying shares (cannot be sold through Stock Exchange, only to people of whom the director approve, board of directors appointed, dividends paid on each share if company makes profit.Shares can be partly paid.Shareholder is liable only for invested by him money.

Registration:

Memorandum of Association (Company and its dealing with outside world/sets out name Ltd., type, total share capital, kind of shares)

+

Articles of Assocation (rules how the company run internally: powers, duties of directors, staff, salary, issue and transfer of shares)

sent to Registar of Companies

=

Certificate of Incorporation(permission to start trading)

Advantages:

- more capital than partner-p

- limited liability

- continuity

- legal position as company

Disadvantages:

- expensive to set up – heavy legal and accountancy fees+ large government stamp duty

- shares cannot be sold to public-may limit capital

- expensive to audit accounts carefully

4) Public limited company – more than 2 shareholders (no maximum),minimum capital – 50 000 f., shares can be advertised and sold to the public, operates on large scale (must reveal activity to the public).

Registration:

Memorandum of Association + Articles of Assocation + Prospectus (set out for public company’s aims, background)

=> Registar of Companies => Certificate of Incorporation(But cannot start trading yet)

- Company makes public offering – advertising for sale(public issue) or selling shares privately to pension funds,insurans comp(private placing)(for enough capital) =>Can apply for Trading Certificate,get it,start the bussiness

Advantages:

- almost limitless capital (shares)

- large scale of operation (huge projects undertaken)

- limited liability (to the amount of investment)

- continuity

- legal identity of the company

Disadvantages:

- expensive and complex to set up

- critics of management by shareholders may hinder the progress of the company

- inflexibility, inefficiency of management, overstaffing

- much information must be revealed(companies Act 1967-large corporation can work against government wishes)

- liable to takeover bids and political pressure

12.Структура компании (история создания, основные направления деятельности, этапы развития, производственные мощности, иерархия, основы успешной деятельности на примере компаний Shell/ Colgate-Palmolive/Proctor &Gamble).

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Дата добавления: 2015-01-03