Structure and organisation

In a small business, the owners will make all the decisions – a sole trader will decide what the aims and objectives of the business will be, what needs to be purchased, how to market, who to employ etc. In a partnership, the partners will be able to share these decisions. They will perhaps, as we have already seen, begin to specialise. One partner may take charge of marketing while another will take charge of finance etc.

However, as a company gets bigger, the business will need to start putting organisational structures in place to ensure that the business can meet its aims and objectives.