Types of Business - Forms of Ownership

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5 Types & Forms of Business Ownership

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Types of Business forms and businesses

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Types of Business and Forms of Business Ownership By: Abid Istwani, Ayaan Mohammed

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Forms and type of Business

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MANUFACTURING

A manufacturing business works by creating its own line of production through the means of producing goods from raw resources.

Example: SpaceX

Example: Toyota Motor Corporation

CO-OPERATIVE

A co-op establishment is a form of business that consists of management and control by a select group of people privately, with the objective of incorporating a combined idea out of the ideas developed by all collaborators.

Example: VISA

Example: Desjardins Group

FRANCHISE

A franchise business is a business where the owners sell the rights to their business logo, name, and model to independent third-parties, called “franchisees”.

Example: NoFrills

Example: McDonald's

SOLE PROPRIETORSHIP

A sole proprietorship is a form of business where the business has a direct link to its owner and only its owner, who is responsible for managing it by himself / herself.

Example: Proberry

Example: Biryani King

NON-PROFIT

A non-profit business is a business where all profits gained are used to further expand the organization, instead of returning profits to investors. These organizations are typically charitable, and use their profits to help others.

Example: American Red Cross

Example: Greenpeace

E-COMMERCE

E-Commerce is the purchasing and selling of goods and services over an electronic network (i.e. the Internet).

Example: Dollar Shave Club

Example: Amazon

MERCHANDISING

A merchandising business is a form of business that focuses on providing goods to consumers. Most merchandising businesses typically sell things that are popular from recent events or trends, or just needed by the local consumer population in general.

Example: Shoppers Drug Mart

Example: Walmart

PARTNERSHIP

A partnership is an agreement and mutual cooperation between two individuals running a business establishment.

Example: Century 21

Example: RE/MAX

SERVICE

A business that provides a service is usually expected to provide consumers with something that is accomplished through work as opposed to providing a good that is an object expected to satisfy their needs.

Example: Mr. Lube

Example: Canadian Tire

CORPORATION

A corporation is a company that is legally allowed to act as a single entity. Corporations typically consist of a board of shareholders.

Example: HSBC Holdings

Example: Apple Inc.

Types of Businesses & Forms of Ownership

TYPES

FORMS