Forms & Types of Business

Forms

Sole Proprietorship

What is it ?

Sole Proprietorship is one of the simplest and a straight forward business. It is a business where it is owned by a single person who is legally responsible for its debts

Examples

Corporation

What is it?

This is a business authorized by law to carry on an activity with the rights and duties of a single person. Corporations have a majority of the rights and responsibilities that an individual owner would have.

Examples

Franchise

What is it?

A government or a company authorized group or an individual which allows them to carry out a specified commercial activities.

Examples

Partnerships

What is it?

The partnership is when a business has two or more individuals who share the same management and profits.

Examples

Types

Services

What is it?

Services marketing is any form of selling which doesn’t comprise of a physical product

Examples

Cargo Cabbie

Gossip Nails & Spa

Merchandising

What is it?

Merchandising is a business in which a product, good or service is promoted and marketed in a distribution chain. Distribution chains comprise merchandisers which purchase a product and sell it without altering it.

Examples

Walmart

Home Depot

Manufacturing

What is it?

This business comprises of producing a product by hand or using a machine, and upon completion it is sold to customers. Items used in this business may be raw or components of a larger product.

Examples

Tipco Inc

RB & W Corporations of Canada

E-Commerce

What is it?

This is a business which involves buying and selling of goods over an electronic network. These business transactions are either business to business or business to consumer.

Examples

Amazon

IKEA

Non-Profit

What is it?

A non-profit business is not required to pay tax, and it is usually an organization formed for religious, charitable, literary, artistic or educational purpose.

Examples

Salvation Army

Islamic Relief

By: Fatima Malik and Aisvigaa Chuthagaran

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