Types of Business | Types of Business >> First of all let us know what is business? Business is the process of producing and selling goods and services on a regular basis with the objective of making a profit. Business includes all activities from production to sale of goods. The main purpose of business is to meet the needs of the society and get funds from it. Local Business Online Offer – @299 Plan
Business types are mainly based on 6 factors namely sector, size, organization method, type of product, economic activity and place of business.
Type of Business :-
Types of business by sector
- government industry
Type by size of business
- Large Enterprise (Multi National Company)
- medium industry
- small industry
Types of Businesses by Organization Method
- cooperative organisation
- Joint Stock Company
- Partnership Organization
- Personal organization
Type by product
- Agriculture Business
- Primary Industries
- Supplementary Industries
- Service Industries
Business type based on economic activity
- primary action All the activities in which natural resources are directly used by humans to meet their needs are called primary activities. Example :- Timber felling, forest activities,animal husbandry agricultural works, fisheries etc.
- Secondary action – These activities do not directly use natural resources. Rather, the goods provided by nature are recycled and used. Like making cotton from cotton, steel from iron, furniture from wood, wheat flour etc.
- third action These activities include activities related to services provided to society. Such as education, health, administration, trade, traffic, telecom, food delivery etc. Services related to various fields like
- Fourth verb All the activities in which work is done for the purpose of developing the society are called as fourth activities for example research work, scientist, artist, leadership, award etc.
Place of business
- Businesses in urban areas.
Friends, in this article we have learned about the meaning and types of business, hope you understand the meaning and types of business. If you have any query related to this article or business, please comment below we are waiting for your comments.