types of business
This business is owned and run by one person with unlimited liability.
What is sole trader
this model sells products directly to customers without retailers
What is Direct-to-consumer [DTC]
This include employees and workers in a business
What is labour
money the comes from the owner's own savings
What is self-funding
professionals who help with legal issues like contracts
What is solicitors
Two friends start a business and share profits
What is partnership
A clothing brand avoids retailers to reduce cost and build stronger customer relationships by selling only through its website.
What is online business / Direct-to-consumers
A business invests in employee training programs to improve productivity and skills.
What is labour
A small business owner avoids taking loans and instead asks his friends and family for support to reduce financial risk.
What is Friends and family
A business hires an someone to ensure it complies with the tax laws
What is accountant
This business lets thousands of strangers own tiny pieces of it through shares.
What is public listed company
A store lets you try clothes in person.
What is bricks and mortar
This resource include things like - buildings, machines, and technology - basically the "stuff" a business owns
What is capital
A business borrows money and then regrets it every time interest rates rise
What is Debt
When your business Wi-Fi crashes and everything stops working, these people become your heroes.
What is technological support service
Mars incorporated is owned by family and not listed on a stock exchange, yet it still has limited liability and operates globally
What is private limited company
Netflix transitioned from DVD rentals to streaming, using a model where customers pay ongoing fees for access to content
What is online business
Max incorporated invests heavily in advanced production technology to reduce costs and increase efficieny
What is capital
a large company like Disney may borrow significant funds to finance content production, accepting repayment obligations and interest.
What is debt finance
A global business like Toyota must ensure compliance with laws in over 70 countries by employing specialists.
What is legal support services / advice from the solicitors