Marketing Overview

 Types of Business Categories?

Businesses can be categorised based on ownership ( like sole proprietorship, partnership, corporation ), size, industry and other factors, with common types including sole proprietorship, partnership, corporation, franchise and cooperative.

Sole Proprietorship : A business owned and operated by one person.

Partnership :  A business owned and operated by two or more individuals who agree to share in the profit and losses of the business.

Corporation :  A legal entity separate from its owners, offering limited liability to its shareholders. 

       It is of two types : 1. C Corporation 

                                   2. S Corporation

1. Limited Liability Company( LLC) :  A hybrid business structure that combines the benefits of a partnership and sole proprietorship with the limited liability of a corporation.
2. Non - Profit :  A business that is tax - exempt and operates to benefit society than generate profits.
3. Joint Venture: A temporary partnership between two or more companies to achieve a specific goal or project.
4. Limited Liability Partnership(LLP) :  A partnership where all or some partners have limited liability.
5. Benefit Corporation( B Corp) :  A for - profit corporation that aims to have a positive impact on society, workers, the community and the environment.