Types of businesses

Front

This type of business is owned by one person.

Back

Sole Proprietorship

Front

This type of business is owned by two or more people.

Back

Partnership

Front

This type of business is a contractual agreement with a parent company to sell its products/services in an area.

Back

Franchise

Front

Floral shops, bookstores and farms are examples of.....

Back

Sole Proprietorships

Front

Nike, Google and Apple are examples of.....

Back

Corporations

Front

McDonald's and Burger King are examples of....

Back

Franchises

Front

Advantages of this business type are that the owner is their own boss and gets to keep all the profits. Options: Partnership, Sole Proprietorship, Corporation, Franchise

Back

Sole Proprietorship

Front

Disadvantages for this type of business include: owner pays for everything, hard to get money to start from the bank, owner might lack skills & unlimited liability. What type of business is this? Options: Sole Proprietorship, Partnership, Corporation, Franchise

Back

Sole Proprietorship

Front

Advantages of this business include: easier to get money from the bank to start, share skills and share risks. Options: Sole Proprietorship, Partnership, Corporation, Franchise

Back

Partnership

Front

Disadvantages of this business type include: needs a partnership agreement, partners might not get along, owners share profits, unlimited liability.

Back

Partnership