Buisness
Forms of Business Ownership
Sole Proprietorship
A Sole proprietorship is an unincorporated business with one person or a married couple as the owners. Sole proprietorship is not a legal entity it refers to a person who owns the business and its responsible for its debts
Local Grocery store
Art Studio
Partnership
A legal form of business operation between two or more people who share management and profits.
Spotify
Uber
Corporation
A company or group of people authorized to act as a single entity and recognized as such in law
Amazon
Franchise
Authorization granted by government or company to an individual or group enabling them to carry out specified commercial activities, Providing a broadcasting service or acting as an agent for a company’s product
McDonald's
Subway
Co-operative
Type of organization that is both owned and controlled by members, who happen to use the services and products of the cooperative
Credit Unions
Insurance Co-operative
Types of Businesses
MERCHANDISING
WHAT IS IT? It is a company that usually buys and resells goods
COSTCO
Walmart
MANUFACTURING
WHAT IS IT? Manufacturing uses the elements of crafting goods to make a finished sellable product.
CAR PART FACTORY
FURNITURE FACTORY
NON PROFIT
WHAT IS IT? A non-profit organization is a business that helps the social welfare of other people and takes no income to the business its self gaining no profit
WWF
UNITED WAY
SERVICE
WHAT IS IT? A service is a company or a professional enterprise that fulfills demands helping benefit the customer.
PHONE REPAIR
CAR REPAIR