Types and Forms of Business

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5 TYPES AND FORMS OF BUSINESS OWNERSHIP

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Types and Forms of Business

non-profit

Where the people doing the service or selling the profit do not get money from the business. ex;red cross,habitat for humanity.

Habitat for Humanity

Red Cross

manufacturing

businesses that make products and other stuff in factories usually using machines. ex;Shoe manufacturing,towel manufacturing,candle manufacturing.

Candle manufacturing

Shoe manufacturing

Co-operative

A private business that is owned by its members, or the people who use its products. The members also use the co-op business’ services/products.

Ocean Spray - Agriculture

Do it Best - Hardware Store

Franchise

When business owners - called franchisees- sell their business rights to like logo and name to third party operators - called franchisers.

Starbucks

McDonalds

Corporation

A corporation has board of directors that guide the business as a separate legal entity

Coca-Cola

Microsoft

Partnership

When two or more individuals start a business together as co-owners. The profits, loss, debts, etc are all split between the owners.

Uber

Spotify

Sole Proprietorship

A business owned and run by one person and not a business partnership. The owner is fully responsible for business loss, gain, debts, etc.

local grocery store

tutoring service

e-commerce

a business that sells products through the internet. ex; ebay,amazon.

merchandising

a business that sells a product. ex;Clothing stores,grocery stores.

service

Subtopic

a business that helps or does work for their costumers. ex;cell phone repair,restaurant.