extraction of raw materials

manufacturing of products using raw materials from primary sector

provides services

Businesses that aim to make profit, small local businesses eg.electrician

Responsible for providing a range of public services, financed via taxation, eg. health care, education, libraries

Organizations that do not aim to make profit and are not government owned, Rely on donations, charities

A business owned by one person

A business owned by 2 to 20 people

A company is a separate legal entity to the owners., shares in the business are sold to raise finance

A separate legal entity from its owners, Shares can be bought and sold via stock market

The government identify the aims and objectives of the organizations

Part of the third sector, includes voluntary and communities groups

Limited companies that aim to benefit the community, social purpose

The business and the owner are separate, The owner of a business can only lose the money they invested in a business if it fails

The owner and the business are the same entity, The owner is personally responsible for repaying all the debts of a business

Business owners must consider finalcial risk, Unlimited and limited liability

Will influence on the form of ownership of the business

Cost of setting up a business increases to the amount of legal paper work

The form of ownership chosen will influence the level of conteol the owner have.

Growth, Survival, Financial

Finance , Marketing, Human resources

Stock of raw materials

Training staff

Savings

Donating to charity

Centralised

Local government

Data Protection act

short-term liability