Notes On Types Of Business

Resource Description

Has everthing you need to know about Chapter 2 in the Jacaranda Business Studies in Action Preliminary Course.

Type of Businesses
 Classification of business
– Size- small to medium enterprises (SMEs), large
– Geographical Spread- Local, national, global
– Industry- primary secondary, tertiary, quaternary, quinary
– Legal structure- sole trader, partnership, private company, public company,
government enterprise
 Factors influencing choice of legal structure
– Size, ownership, finance

Classification of a Business
The type of business that owners establish will depend on a number of different variables including:
– the personal goals of the owner
– the financial goals of the owners
– whether the business is producing a good or service
– the volume of output that will be produced
– the number of earners that the business has
– what amount of capital funds is required for the business