5 Types of Businesses

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5 Types of Businesses

Co-Operatives

Canadian Press

Home Hardware

A business owned by the workers or the members who buy the products or use the services that the business can offer. Th emotive for operating a Co-Operative is for service, not profit

Corporations

7-Eleven

Coca-Cola Company

A business granted with legal status with rights, privileges, and liabilities that are different from those who work for the business. Corporations come in all sizes, both big and small.

Partnerships

Hewlett Packard

Warner Bros.

A business operated by two or more individuals who want to share the costs and responsibilities.

Franhcises

Uber

Tim Hortons

One business licenses the rights to its name, operating procedure, designs, and business expertise to another business, the franchisee.

Sole Proprietorship

Examples

Foreign Professionals of Canada (FPC)

MESH

A business owned by one person( proprietor). Owner owns all equipment and might own the building. Uses their own money to run their business.