A business is an organization that is set up to make money. There are four main types of business:
1. Corporation
2. Limited Liability Company (LLC)
3. Sole Proprietorship
4. Partnership
1. Corporation
A corporation is a business that has been formed under the laws of a state or country. It is a legal entity that can have a board of directors, officers and shareholders. It is also known as a “corporation.”
2. Limited Liability Corporation (LLC)
A limited liability company (LLC) is a business that is created with a set of rules that govern how it operates. The rules determine who owns the business and who is responsible for what in the company. The LLC has no legal existence apart from the people who own it.
3. Sole Proprietcory
A sole proprietorship is a business owned by one person. This type of business is not a legal entity, but it does have legal protection from personal liability. A sole proprietor can be sued in civil court if someone believes that he or she owes them money.
4. Partnership
A partnership is a business owned by two or more people. These people may have different responsibilities. They may have different levels of ownership in the business.
Top 10 Businesses
1. McDonald’s
2. Walmart
3. Exxon Mobil
4. Target
5. Walgreen
6. Best Buy
7. Home Depot
8. Starbucks
9. Apple
10. Disney
Business Definition
Business is defined as the production or trade of goods or services for profit. It is usually conducted by one person or a group of people. Some businesses sell products, others sell services, and some sell both.
Businesses are usually classified into two categories:
1. Domestic
2. International
Domestic Businesses
Domestic businesses are those businesses that operate within the boundaries of one country. Examples include:
1. Manufacturing
2. Retail
3. Wholesale
International Businesses
International businesses are those businesses that operate outside of their country. Examples include:
1. Tourism
2. Trading
3. Services
Business Types
There are many types of businesses. Some are listed below.
1. Retail
Retail businesses sell products or services to consumers. They are usually small in size.
2. Wholesale
Wholesale businesses buy products in bulk and then sell them to retailers at a lower price than they paid for them.
3. Service
Service businesses provide a service to customers. Examples include:
a. Accounting
b. Architectural Design
c. Computer Programming
d. Medical Transcription
e. Photography
f. Tax Preparation
4. Manufacturing
Manufacturing businesses produce products or components that will be sold to other companies.
5. Construction
Construction businesses build structures such as houses and office buildings.
6. Real Estate
Real estate businesses include:
a. Land
b. Houses
c. Commercial Buildings
d. Office Buildings
e. Shopping Centers
7. Agriculture
Agricultural businesses include:
a Land
b. Farms
c. Animal Husbandry
d. Fishing
e. Farming
8. Mining
Mining businesses include:
a Gold
b. Silver
c. Coal
d. Iron
e. Oil
f. Gas
g. Uranium
h. Diamonds
i. Copper
j. Lead
k. Nickel
l. Platinum
m. Lithium
n. Tin
o. Zinc
p. Aluminum
q. Titanium
r. Silver
s. Gold
t. Diamonds
9. Transportation
Transportation businesses include:
a Railroads
b. Airlines
c. Trucking
d. Ferryboats
e. Boats
f. Tugboats
g. Automobiles
h. Airplanes
i. Helicopters
j. Motorcycles
k. Ships
l. Trucks
m. Buses
n. Trains
o. Planes
p. Ferries
q. Buses
r. Trucks
s. Ships
t. Trains
u. Planes
v. Buses
w. Ferries
x. Trains
y. Ships
z. Trucks
10. Entertainment
Entertainment businesses include:
a Movies
b Music
c. Theater
d. Comedy
e. Sports
f. News
g. Television
h. Radio
i. Internet
j. Games
k. Books
l. Magazines
m. Newspapers
n. Publications
o. Publishing
p. Advertising
q. Sales
11. Education
Education businesses include:
a Colleges
b Schools
c Universities
d Educational Programs
12. Insurance
Insurance businesses include:
a Life Insurance
b Health Insurance
c Auto Insurance
d Fire Insurance
e Disability Insurance
f Travel Insurance
13. Banking
Banking businesses include:
a Savings Banks
b Credit Unions
c Savings & Loan Associations
14. Finance
Finance businesses include:
a Banks
b Brokers
c Investment Companies
d Securities Brokers
e Futures Brokers
15. Transportation
Transportation business includes:
a Car Rental
b Bus Rental
c Taxi Service
d Truck Rental
e Airline Rental
f Ferry Rental
16. Food
Food businesses include:
a Restaurants
b Grocery Stores
c Bakeries
d Cafeterias
e Ice Cream Parlors
17. Entertainment
Entertainment business includes:
a Casinos
b Night Clubs
c Music Halls
18. Retail
Retail business includes:
a Department Stores
b Supermarkets
c General Merchandise Stores
19. Hotel/Motel
Hotel/Motel business includes:
a Motels
b Hotels
20. Government
Government business includes:
a Federal Government
b State Governments
c Local Governments
21. Healthcare
Healthcare business includes:
a Hospitals
b Doctors’ Offices
c Nursing Homes
22. Media
Media business includes:
a Newspapers
b Radio Stations
c TV Stations
23. Arts
Arts business includes:
a Museums
b Art Galleries
c Concert Halls
24. Professional Services
Professional Services business includes:
a Architects
b Engineers
c Lawyers
25. Financial Services
Financial Services business includes:
b Insurance Brokers
c Financial Advisers
26. Real Estate
Real Estate business includes:
a Real Estate Agents
b Real Estate Brokers
27. Advertising
Advertising business includes:
a Advertising Agencies
b Marketing Agencies
28. Consulting
Consulting business includes:
a Consultants
b Accountants
29. Public Relations
Public Relations business includes:
a PR Agencies
b PR Firms
30. Travel
Travel business includes:
a Travel Agencies
b Travel Agents
31. Advertising
Advertising includes:
a Ad Agencies
b Advertisers
32. Public Relations
Public relations includes: