Lesson 73-Types of Entrepreneurship

1. Single or Sole Proprietorship-owned & operated by a single individual or family.
Ex. Cornerstore
Grocery Stores
2. Partnership-owned by 2 or more individuals.
Ex. Law office
Accounting Firms
Medical & Dental Clinics
Establishments that render services for a fee like Repair shops,Barbershops,Beauty shops
3. Corporation-are group of individuals who agreed to establish an enterprising business. The Initiators of this business are incorporations.They share for it's starting capital.To increase it's capital,shares of stocks are offered to interested individuals( Stockholders ). Stockholders elect directors who formulate plans & policies.The management is under the Directors & officers are appointed by them.
4. Consumer's Cooperative-enterprises formed,owned & operated by it's own members of 15 people. They buy shares on voluntary basis.