An individual or business that purchases a franchise.
What is a franchisee
100
A legal business structure that is owned and operated by between two and twenty people with the aim of making a profit.
What is a partnership
100
A business that employs fewer than five people (including the owner).
What is a micro business
100
A franchise means buying the rights from another business to distribute its product under its name.
What is a franchise
100
An incorporated business and usually between two and 50 shareholders.
What is a Proprietary (Private) Company
200
The buying and selling of information and products via the internet.
What is a e-commerce
200
Occurs when the business owner is personally responsible for all the debts of his or her business.
What is a unlimited liability
200
The raising of capital in a company through the sale of shares to the public.
What is a float
200
Commonly referred to as a transnational corporation (TNC), is a large business with a home base in one country that operates partially owned or wholly owned businesses in other countries.
What is a global business
200
An individual or business that grants a franchise.
What is a franchisor
300
A business with a very restricted geographical spread, it serves the surrounding area.
What is a local business
300
The process of transferring ownership of a government business to the private sector.
What is a privatisation
300
The presence of a business and the range of its products across a suburb, city, state, or country or the globe.
What is a geographical spread
300
Includes all those businesses in which a product is directly associated with natural resources.
What is a primary industry
300
Involves taking a raw material and making it into a finished or semi-finalised product.
What is a secondary industry
400
A business that is owned and operated by only one person.
What is a sole trader
400
An industry consists of businesses that are involved in similar types of production.
What is a industry
400
A business that operates within just one country.
What is a national business
400
Government-owned and operated businesses.
What is a government enterprise
400
Involves performing a service for other people.
What is a tertiary industry
500
Includes all services that have traditionally been performed in the home.
What is quinary industry
500
The process that companies go through to become incorporated, i.e. to become a registered company and a separate legal entity.
What is a incorporation
500
Includes services that involve the transfer and processing of information and knowledge.
What is a Quaternary industry
500
A feature of a corporate ownership that limits each owner’s financial liability to the amount of money he or she has paid for the business’s share.
What is a limited liability
500
Refers to the process companies go through to become a separate legal entity from the owner/s.