5 Types & 5 Forms of
Business Ownership - Hajar & Alizeh
Non-Profit
A type of business that operates for a specific purpose other than making a profit, this business often relies on donations, grants and fundraising to achieve their goals (eg. the Canadian red cross society, Canadian cancer society).
E-Commerce
A type of business that operates online, selling
products or services over the internet, this business ranges from small independent online stores to larger national platforms (eg. shopify, amazon, ebay).
Manufacturing
A type of business that uses raw materials
or components to create finished goods, this business makes most of the products that we use (eg. furniture, clothing production).
Merchandising
A type of business that sells physical products known as merchandise, it involves purchasing goods from suppliers and selling them to consumers (eg. clothing store, book store, grocery store).
Service
A type of business that provides services rather than physical products, it helps people who don't have the time or skills to complete certain tasks by themselves (eg. hairstylist, plumber).
Co-operative is a business where a group of people work together for their mutual benefit. they share resources, responsibilities and profits. Some examples of a co-operative business are the associated press, and best western.
Franchise
A franchise is a business where one party lets another party use their brand/product to run a business. some examples of a franchise business are McDonalds, Taco Bell, KFC, 7-Eleven and Dunkin.
Corporation
A corporation is a separated legal entity owned by shareholders, managed by directors and has limited liability. some examples of a corporation are amazon, Microsoft and Disney.
Partnership
A partnership is a business arrangement where two or more people come together to join and share profits. Some examples of a partnership business are Google, Starbucks, and adidas.
Sole Proprietorship
A sole proprietorship is a business owned or operated by one person. Some examples of a sole proprietorship business are freelance writers, graphic designers and personal trainers.
