Types of business

Types of business

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  • Sole Proprietorship  Owned by one person 
  • I owned the book store. The good thing is I get to keep all the profits but I have to pay for everything needed for business
  • Partnership Owned by 2 or more people
  • We both own this business. We both share a risks
  • But sometimes we might not get along well
  • Franchise Agreement to sell a company's product or services in a specific area
  • Hello, welcome to pizza hut. It's really easy to start a business like this but sometimes we cant do whatever we want. We have to operate like other franchise
  • Corporation Owned by many people
  • Hello, we all of us owned this business
  • We all can raise money by selling stock
  • But corporations are taxed on their profits
  •  Multinational Corporation A company that does business & has business facilities in many countries
  • Such companies have offices and/or factories in different countries and usually have a centralized head office where they coordinate global management  
  • Profit-making Businesses Businesses whose motive is making a profit 
  • Produce & distribute goods and services based on consumer demand
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