Business structures

NSW Commerce Stage 5 65

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Introduction

Students learn about the different business structures that exist and consider the advantages and disadvantages of each. They develop and apply criteria, including tax implications, to decide which business structure is more suitable in different scenarios.

This activity contributes to the following outcomes.

A student:

  • applies consumer, financial, economic, business, legal, political and employment concepts and terminology in a variety of contexts COM5-1
  • analyses key factors affecting decisions COM5-4
  • explains information using a variety of forms COM5-8
  • works independently and collaboratively to meet individual and collective goals within specified timeframes COM5-9.

Related Stage 4 outcomes: COM4-1, COM4-4,COM4-8,COM4-9

Related Life Skills outcomes: COMLS-7, COMLS-12, COMLS-13

Content descriptions

Option 4: Running a Business

Planning for success

Students:

  • examine the key considerations involved when planning and organising a small business, including: (ACHEK019, ACHEK030)
    • key features of organisational structures, for example sole trader, partnership, private company and incorporated association (ACHEK030).

Student learning resources

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Explainer

Business structures

 
Interactive

Business structures

 
Worksheet

The pros and cons of different business structures

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Suggested activity sequence

This sequence is intended as a framework to be modified and adapted by teachers to suit the needs of a class group. If you assign this activity to a class, your students will be assigned all student resources on their 'My learning' page. You can also hand-pick the resources students are assigned by selecting individual resources when you add a work item to a class in 'My classes'.

  1. Read the explainer as a class. You may also want to play the business structures video. Alternatively, have students read the explainer individually or in pairs and take notes using the Cornell note taking system.
  2. Students complete the interactive, followed by the worksheet.
  3. Discuss with students which business structures they identified as being the most appropriate for each business and why.