TYPES AND FORMS OF BUSINESS

They are entities that use resources to provide goods or services and in return make a profit.

There are several types such as:

1. SERVICE BUSINESS

This type of business provides intangible products, such as

professional services

2. MERCHANDISING BUSINESS
In this group are those who buy wholesale and sells to
retail, such as distributors.

3. MANUFACTURING BUSINESS
In this group are those who buy the products to be
transformed, for example raw materials.

HYBRID BUSINESS
MIX OF SERVICES TO MEET CUSTUMER NEEDS FOR EXAMPLE

ONLINES STORE
FORMS OF BUSSINES ORGANIZATION
The forms of organization are the following:

1. Sole Proprietorship:

This business is conformed by only one person and is the least expensive of all forms of organization.

It’s a type of small business entities.

Examples

Small shops Boutique

2. Partnership:

This business is conformed by two or more persons and they divide the profits

Example

Mining company
 3. Corporation

This organization has a separate legal personality from its owners

The board of directors, controls the activities of the corporation

Example

El Rosado Corporation

In addition to those basic forms of business ownership, these are some other types of
organizations that are common today:

Limited Liability Company

Limited liability companies (LLCs) in the USA, are hybrid

forms of business that have characteristics of both a
corporation and a partnership.

Nonetheless, the owners enjoy limited liability like in a

corporation. An LLC may elect to be taxed as a sole
proprietorship, a partnership, or a corporation.
Cooperative

A cooperative is a business organization owned by a group of

individuals and is operated for their mutual benefit.

Some examples of cooperatives are: water and electricity (utility)

cooperatives, cooperative banking, credit unions, and housing
cooperatives.