Defination of Business
1. A business is also called an enterprise or a firm, is an organization that involved in the trade of goods, services in exchange of money.
2. Businesses can be non profit or state-owned organization.
3. A Company or enterprising being engaged in commercial, manufacture and/ or professional activities.
4. A business can operate or maintain by multiple personnel which may refer to as a company.
1. A business is also called an enterprise or a firm, is an organization that involved in the trade of goods, services in exchange of money.
2. Businesses can be non profit or state-owned organization.
3. A Company or enterprising being engaged in commercial, manufacture and/ or professional activities.
4. A business can operate or maintain by multiple personnel which may refer to as a company.
5. In short, business refer the purchase and sale of goods in an attempt to make a profit.
6. A business means to make profit instead of minimized commercial cost of products and/ or services.
Type of Business
- Sole proprietorship
- Partnership
- Corporation
- Cooperative
- Joint-stock company
- Private limited company
1. Sole proprietorship is also called sole trader and it is owned by a person to make profit, all liabilities and assets are enjoyed solely by owner wheather operating cost and decision against the business.
2. Partnership is a business owned by two or more people. In most forms of
partnerships, each partner has unlimited liability for the debts
incurred by the business.
3. Corporation define The owners of a corporation have limited liability and the business has a separate legal personality from its owners. Corporations can be either government-owned or
privately owned. They can organize either for profit or as
not-for-profit organizations.
6. Private limited company is a hybrid type of business entity used in many jurisdictions, with some differences from country to country
4 Cooperative is a limited liability business that can organize for-profit or
not-for-profit. A cooperative differs from a corporation in that it has
members, not shareholders, and they share decision-making authority.
Cooperatives are typically classified as either consumer cooperatives or worker cooperatives.
5. A joint-stock company is a business entity where different stocks can be bought and owned by shareholders. Each shareholder owns company stock in proportion, evidenced by his or her shares.
