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Types of Businesses

SERVICE

WHAT IS IT? A service is a company or a professional enterprise that fulfills demands helping benefit the customer.

CAR REPAIR

PHONE REPAIR

NON PROFIT

WHAT IS IT? A non-profit organization is a business that helps the social welfare of other people and takes no income to the business its self gaining no profit

UNITED WAY

WWF

MANUFACTURING

WHAT IS IT? Manufacturing uses the elements of crafting goods to make a finished sellable product.

FURNITURE FACTORY

CAR PART FACTORY

MERCHANDISING

WHAT IS IT? It is a company that usually buys and resells goods

Walmart

COSTCO

Forms of Business Ownership

Co-operative

Insurance Co-operative

Credit Unions

Type of organization that is both owned and controlled by members, who happen to use the services and products of the cooperative

Franchise

Subway

McDonald's

Authorization granted by government or company to an individual or group enabling them to carry out specified commercial activities, Providing a broadcasting service or acting as an agent for a company’s product

Corporation

Google

Amazon

A company or group of people authorized to act as a single entity and recognized as such in law

Partnership

Uber

Spotify

A legal form of business operation between two or more people who share management and profits.

Sole Proprietorship

Art Studio

Local Grocery store

A Sole proprietorship is an unincorporated business with one person or a married couple as the owners. Sole proprietorship is not a legal entity it refers to a person who owns the business and its responsible for its debts