5 types of business and forms business ownership
5 Types of business
Service
A business that provides a task or services to consumers for a price or fee
Auto-Mechanics
Doctors
Hair Stylists
Personal trainer
Merchandising
A business that buys and resells products from other businesses
Grocery stores
Gas stations
Retail stores
Bookstores
Manufacturing
A business that produces and sells their own products
Car companies
Clothing companies
Shoe companies
Makeup companies
E-Commerce
Buying and selling goods/services through different electronic networks
Amazon
E-bay
Shopify
Plate Crate
Non-profit
A business that has been granted tax exempt status because it provides a public service or benefit or a social cause
Charities
Disease research centers
Doctors without borders
Unicef
5 Forms of business ownership
Sole Proprietorship
A Sole proprietorship is a business that is owned by one person
Lemonade stand
Cleaning service
Marketing services
Web development services
Influencer marketing
Graphic design
Book illustration
Dance studio
Freelance writing business
housekeeper
Ownership
A partnership is basically an arrangement between 2 or more people to oversee business operations, they share and split the costs.
2 Food chains
Law firms
Physician groups
Real estate
Investment firms
Accounting groups
Partnership
A partnership is basically an arrangement between 2 or more people to oversee business operations, they share and split the costs.
2 Food chains
Law firms
Physician groups
Real estate
Investment firms
Accounting groups
Corporation
A company/group of people authorized to act as a single identity and recognized as such in law
Amazon.inc
McDonald’s corporation
Microsoft corporation
General Motors corporation
Apple
Walmart
Costco
Co-operative
A license given to a person or organization by a government agency or business to engage in specific commercial activities
KFC
Pizza hut
Subway
Dominos
Taco bell
Dunkin donuts
Krispy kreme