Types of Businesses and Ownership

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CHAPTER 1 The Goals and Functions of Financial Management

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Types of Business - Forms of Ownership

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Types and Forms of Businesses

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Types of Businesses and Ownership

Co-Operative

A company that is run by a group of businesses to compete against larger companies.

Merchandising

Corner/Convenience Store

Costco

Makes a profit from selling products for a retail price (to consumers) that is less than the wholesale price

Sole Proprietorship

A business that is only run by 1 person

Partnership

Is a business that is created between two or more people

Corporation

A business that run by a group of shareholders that invests in a company

Franchise

A business in which the owners (franchiser), sell the rights to their business to third party operators

Non-Profit

World Wildlife Fund

Bill and Melinda Gates Foundation

Goods, services, donations or sponsorships that make a profit are provided to help the community

E-Commerce

amazon

e-bay

Makes a profit from selling products for a retail price (to consumers) online that is less than the wholesale price

Manufacturing

General Motors Corporation

- Buys raw materials and uses labour/ technology to transform them into products to sell

Pepsi

Service

School

Bank (HSBC)

Provides professional skills, advice or labor