5 TYPES AND FORMS OF BUSINESS OWNERSHIP

E-COMMERCE

DEFINITION:buying and selling of goods and services or transmitting of funds and data online

EXAMPLES

AMAZON

KIJIJI

FASHIONOVA

SERVICES

DEFINITON: service businesses are those that provide an activity or the performance of a task with a commercial purpose.

EXAMPLES

BEAUTY SALONS

TRANSPORTATION (UBER)

TRAVEL AGENTS

MERCHANDISING

DEFINITION: A merchandising business will generally buy their products from a wide range of companies domestically and internationally and market their products in stores

EXAMPLES

WALMART

SPORTCHEK

URBAN OUTFITTERS

NON-PROFIT

DEFINITION: a tax exempt organization formed by charitable, religious, literary, educational purposes etc
Where shareholders do not benefits financially

EXAMPLES

SALVATION ARMY

HABITAT FOR HUMANITY

RED CROSS

MANUFACTURING

DEFINITION:Any business that use, raw, components or parts to make a finished good

EXAMPLES

BAKERIES

TOYOTA

APPLE INC

Partnership

DEFINITION:
A business that includes two or more individuals that share management and profits

Examples

Red bull & GoPro

kanye and Adidas

Spotify & Uber

Sole Proprietorship

DEFINITION: A business that legally has no separate existence from its owner.

Example

Housekeepers

Fitness Instructor

Tutor

Corporation

DEFINITION: A business that declares a separate and a legal entity guided by a group of officers also known as the board of directors

Example

Microsoft Corporation

Google

Macy’s

Franchise

DEFINITION: A franchise is a business owned by an entrepreneur or an entrepreneurial group which they offer products or services labeled by a corporation that provides assistance to the business

Example