Types fo industry
Involve the extraction and production of raw materials
Primary
0-4 employees
Micro
Operates in one local area
Local
The simplest, most common business structure in Australia, where one individual owns and operates the business entirely
Sole Trader
A legal structure where business owners are personally responsible for all debts and financial obligations of their business, with no cap on liability.
Unlimited liability
The sector of the economy that transforms raw materials, extracted by the primary sector, into finished, usable products through manufacturing, processing, and construction.
Secondary
200 plus employees
Operates in multiple countries
Global
A business entity owned by founders, family, or a small group of investors rather than the public.
Private
A legal structure protecting business owners (shareholders/members) from personal responsibility for company debts beyond their initial investment.
Limited liability
The segment of the economy that provides intangible services to consumers and businesses rather than producing raw materials or goods.
Tertiary
20 to 199 employees
Medium business
Operates in one country
A corporation that has sold all or a portion of its ownership shares to the general public, often through an Initial Public Offering (IPO) and trading on a stock exchange.
Publica corporation that has sold all or a portion of its ownership shares to the general public, often through an Initial Public Offering (IPO) and trading on a stock exchange.
The process of creating and implementing new ideas, methods, products, or services to generate value, improve efficiency, and solve problems.
Innovation
Represents the highest level of decision-making and services in an economy, focusing on interpreting ideas, evaluating technology, and creating new services.
Quinary
75 employees
medium
Operates only in Ingleburn
Local
A business structure with two or more people (up to 20) sharing ownership, profits, losses, and management responsibilities, often with unlimited liability for debts.
Partnership
A mandatory, non-refundable financial charge or levy imposed by a government on individuals or entities to fund public expenditures, such as infrastructure, health, education, and defense
Tax
A knowledge-based sector focused on information technology, research and development (R&D), consultancy, and intellectual services.
Quaternary
5 to 19 employees
Small
Operates in China, Greek and Bolivia
Global
Does sole trader have limited or unlimited liability
Unlimited liability
Refers to the process companies go through to become a separate legal entity from the owner/s
Incorporated