types of businesses
By a36ac1b9, Updated
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Sole Proprietorship Owned by one person
I own a toy shop and it was easy to start,but I lack some business skills.
Partnership Owned by two or more people
we own a auto body repair shop, easier to obtain capital than in a sole propietorship
Partner must share profits
Franchise A contractual agreement to sell a company's products or services in a company's product of services in a specific geographic area.
Corporation Owned by many people-stockholders, but treated by law as one person (can own property, pay taxes, make contracts)
Profit-making businesses Businesses whose motive is making a profit (earnin
Non profit-making businesses ond Organizations Focus on providing a service instead of making a profit
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