Different types of businesses operate under various structures to serve distinct purposes and offer diverse services or products. Co-operatives are owned and managed by a group of users for mutual benefit, such as the Farmers of North America.
Types of Businesses
Partnership
Examples:
Apple
Hawlett Packard (HP)
Definition:
A legal business formed by two or more people who share management and profits.
Corporation
Examples:
Ford
Adidas
Definition: Type of business that is separate and distinct from its owners. Corporates are owned by their stockholders.
Merchandising
Purchase of finished goods to resell them
Calvin Klein
Wal-mart
E-Commerce
Franchise
Examples:
KFC
Burger King
Definition: A business owner by an entrepreneur or entrepreneurial group, offering a product or service labeled by a corporation.
Manufacturing
Sole Proprietorship
Examples:
Green Thumb Landscaping
Canada Computers & Electronics
Definition: Type of business entity owned by one person. The owner is in charge.
Non-Profit
tax-exempt organization formed for religious, charitable, literary, artistic, scientific, or educational purposes.
The Red Cross
Co-Operative
Examples:
Farmers of North America
Auto Club Enterprises
Definition: A firm owned, controlled, and operated by a group of users for their own benefit.
