5 Types/Forms of Businesses

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Types of Business and Forms of Business Ownership By: Abid Istwani, Ayaan Mohammed

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5 Types/Forms of Businesses

Non-Profit

A corporation or an association that conducts business for the benefit of the general public without shareholders and without a profit motive

E-Commerce

Buying and selling of goods or services using the internet

Manufacturing

The making of goods or wares by manual labor or by machinery, especially on a large scale

Definitions

Merchandising

Businesses that purchases finished products and resells them

Service

The action of helping or doing work for someone

Co-operative

A co-operative business is organized by a group of individuals that usually have a common/ economic goal

Franchise

Example:

A franchise is a business opportunity where the franchisee can start the business using the franchiser's expertise, ideas, and process

Corporation

A corporation is a legal entity that is separate and distinct from its group of owners.

Partnership

A legal form of business operation between 2 or more individuals who share management and profits.

Definition

Solo Proprietorship

Examples:

The solo proprietorship is the simplest business form under which one can operate a business.

Definition: