From the lists below, please choose one trading type which best describes your organisation:
Organisation Type
| Definition
|
|---|
Sole Trader
| An individual who owns and operates a business alone. They are personally liable for all debts. Common among freelancers and small-scale service providers.
|
Partnership
| A business owned by two or more individuals. Includes ordinary partnerships, Limited Partnerships (LP), and Limited Liability Partnerships (LLP). Partners share profits and liabilities.
|
Private Limited Company (Ltd)
| A separate legal entity owned by shareholders. Offers limited liability and is registered with Companies House. Common among SMEs.
|
Public Limited Company (PLC)
| A company that can sell shares to the public. Subject to stricter regulations and higher transparency. Suitable for large-scale enterprises.
|
VCFSE (Voluntary, Community, Faith & Social Enterprise)
| Encompasses charities, community interest companies (CICs), faith-based groups, and social enterprises. These organisations often deliver public services and are mission-driven. Widely recognised in local authority procurement strategies.
|
Co-operative
| Member-owned businesses that operate for the mutual benefit of their members. Often included in ethical procurement policies.
|
Public Service Mutual
| Organisations that have left the public sector but continue delivering public services with a high degree of employee control.
|
Sheltered Workshop
| Enterprises that employ a significant proportion of disabled workers. Recognised in procurement classifications.
|
Size-Based Classification
Organisation Type
| Definition
|
|---|
SME (Small and Medium-sized Enterprise)
| Defined as having fewer than 250 employees and either ≤ £44 million turnover or ≤ £38 million balance sheet total. Includes:
- Micro: <10 employees, ≤ £2 million turnover
- Small: <50 employees, ≤ £10 million turnover
- Medium: <250 employees, ≤ £44 million turnover
|
Large Enterprise
| Exceeds SME thresholds. Typically includes PLCs and large Ltd companies.
|
