Business organisations: private & public sector
In this lesson we learn how businesses in Namibia are organised — the different shapes and sizes a business can take. First we cut the whole economy into two halves: the private sector, owned by individuals for profit, and the public sector, run by government to provide services. Then we meet each form of business one by one — sole proprietor, partnership, private and public companies, close corporations, co-operatives, multi-nationals and public corporations — collecting for each who owns it, who is liable, how it raises money, and a real Namibian example. The single most important idea we master is limited versus unlimited liability, and we finish by learning how to choose the right form of business for a small trader and for a large one.
By the end you should be able to (NSSCO Economics 2.1):
- Explain the differences between the private and public sector
- Describe the different forms of business organisations: sole proprietors, partnerships, private companies, public companies, multi-nationals, co-operatives, close corporations, public corporations
- Compare and choose the most appropriate form of business