Types of Businesses and Ownership
Service
Provides professional skills, advice or labor
Bank (HSBC)
School
Manufacturing
- Buys raw materials and uses labour/ technology to transform them into products to sell
Pepsi
General Motors Corporation
E-Commerce
Makes a profit from selling products for a retail price (to consumers) online that is less than the wholesale price
e-bay
amazon
Non-Profit
Goods, services, donations or sponsorships that make a profit are provided to help the community
Bill and Melinda Gates Foundation
World Wildlife Fund
Franchise
A business in which the owners (franchiser), sell the rights to their business to third party operators
Corporation
A business that run by a group of shareholders that invests in a company
Partnership
Is a business that is created between two or more people
Sole Proprietorship
A business that is only run by 1 person
Merchandising
Makes a profit from selling products for a retail price (to consumers) that is less than the wholesale price
Costco
Corner/Convenience Store
Co-Operative
A company that is run by a group of businesses to compete against larger companies.
