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1 February, 10:02

Merrythought is a business that makes teddy bears, located in Ironbridge, Shropshire, in the United Kingdom. The business was founded years ago by Gordon Holmes. It is a private limited company, still owned by the Holmes family and is currently run by Gordon Holmes's great-granddaughter Sarah Holmes.

The business has approximately 25 employees and does all its manufacturing in England. It makes a large number of different styles of teddy bears, ranging from "traditional British bears, to special occasion bears and various " novelty' bears.

A. Identify and define the type of business the Holmes family is conducting. Justify your answer

B. List its advantages and disadvantages.

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  1. 1 February, 10:15
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    Products - Teddy bears

    Founder - Gordon holmes

    Business type - Private limited company

    Ownership - Gordon's holmes family

    Administration Gordon Holes granddaughter

    Staff strength - 25

    Looking at the detailed information about the company as provided above, it is justified that it is a small family owned private limited company.

    A small private limited company is a small sized company which ownership and management is largely by family members, Moreover, the staff strength is always limited due to its size and shares can not be listed for pubic trading.

    Advantages

    Easier to set up

    Easier administration

    Business continuity if founder dies

    Disadvantages

    Limited resources

    Shares can not be transferred

    Lack of public confidence
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