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