5 Types of Businesses

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

Examples

MESH

Foreign Professionals of Canada (FPC)

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

Examples

Tim Hortons

Uber

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

Examples

Warner Bros.

Hewlett Packard

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.

Examples

Coca-Cola Company

7-Eleven

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

Examples

Home Hardware

Canadian Press