Types of Business Organisations

For management learners globally

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Soletrader: A sole trader business is a business owned by one person, although the organisation may employ more than one person.

Partnership: When two or more people join forces to own and run a business, their business is known as a partnership and they are called partners

Franchise: A Franchise is an organisation utilising a business idea belonging to another. The Franchise owner will pay the owner (of the business idea) money to use their business idea.

Charity The overriding objective of these types of organisations is something other than making a profit. Such organisations have a variety of objectives

Co-operative: In 1844 28 weavers from Rochdale set up a society to buy food and sell to its members at the same price that the food would be sold to shops.

Private and Public Limited Company This is a business owned by a group of people who do not want to have unlimited personal liability for the debts of the business