Tipes of organizations.

The Private Sector

In these last ten years the Maltese economic system has grown rapidly in Malta and continuously. As years goes by we take on that Malta is becoming a more service orient economy.

The labour force amounts to 148,818 (2003). The gain sufficienty occupied universe totals to 137,758 (2003) of which around 69.6% ar male and 30.3% atomic number 18 female.

The gainfully occupied population expanded in recent years, mainly as a result of more employment opportunities in the insular sector.

The Maltese economy is divided into two sectors, the public sector and private sector.

The public sector, services are given to the public with no intention of profits buy only to provide a service to the customers.

Such services are:

        Health

        Army

        Justice and Social Security

         plan of attack Rescue

The economy is made up of organizations which are run by private individuals and companies.

Such organizations include:

        Sole Trader

        Partnership

        Companies

        Franchises

        Co-operatives

Sole Trader

Sole Trader involves one person who starts a business operation on his own.

Their point is that there is no deference surrounded by the ownership and the management, these two are merged in one person, that is the person and the business are a single entity. This is very important because as we shall see companies of whatever type are a separate statutory entity distinct from the owner and manager.



A sole trader is conjectural for all the debts of the business. The owner of the business is responsible for all debts.

Partnership

The statute title of Partnership shall contain:

        Name and residence of each of the partners

        The union name

        The registered office of the partnership

        The trade to be carried out by the partnership

         donation of each of the partners

Once the deed of partnership has been set up between the partners it must be delivered to the...

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