types of businesses

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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.
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  • 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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