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Business is an organisation where goods and services are exchanged for money. Business activities take place in a company through production of goods and providing service. The main motive of business is to increase income, gain profit and to be economically strong. A business can be of both for-profit entity and a non-profit entity. The different types of business are- Sole proprietorship, general partnership, limited partnership, corporation, corporative, limited liability partnership (LLP), limited liability limited partnership (LLLP), Non Profit Corporation, Trust, etc. Students looking for business related topic can found a detailed account of its types, characteristics and applications in Business Dissertation Help.
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Different Types of Businesses
The different types of businesses explained in Business Dissertation Help are
• Sole Proprietorship: – It is the simplest and most common type of business among all other businesses. A sole proprietorship is a business where an individual has authority and is responsible for the business. Married couple can also be included in sole proprietorship. Examples of businesses that come under sole proprietorship given in Business Dissertation Help are- plumber, electrician, and builder and also the people who run small web based businesses. Here, the owner is responsible for profit and loss, assets and liabilities and also debts. This type of business is very easy to operate and is flexible enough for easy management.
• Limited Partnership: – Limited partnership is a type of business which has both general partners and limited partners. We can have one or more general partners and limited partners. General partners are those who manage the business and have equal share in profits and losses. Limited partners are those who do not involve in day-to-day tasks and share profit but losses are limited to the amount of their investment. It is explained thoroughly in Business Dissertation Help.
• General Partnership: – General partnership is a type of business which has two or more general partners. Each individual member contributes equal amount of money, labour and skill to a business and share profits and losses equally. Usually formal terms and conditions are contained in a written partnership agreement. Each partner is also responsible for debts in the business.
• Corporation: – Corporation is a complex type of business structure. It is a limited liability and can be classified as profit and non-profit organisations. Corporation type of business gives tax and financial benefits.
• Franchises: – It is one type of business where entrepreneurs purchase the rights from large corporations to run a business.
• Cooperative: – It is also referred to as co-op. Cooperatives can be classified as consumer cooperatives or worker cooperatives. There is a huge difference between corporation and cooperative. In cooperative, it has members; but in corporation, it has shareholders.
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Clients looking for Business Dissertation Help from us can expect a few pros and traits
• Process of Understanding the Business subject to be made simpler.
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• Feedback and Response facilities are also available
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