Main Types of small business ownership Flashcards
(3 cards)
1
Q
Manufacturing
A
A business that assembles and sells products from raw materials or parts using human labour, machinery, and tools.
e.g. Car manufacturers, bakeries, tailors.
2
Q
Trading/Retailing
A
A business that purchases goods and then sells these.
e.g. Buying and selling clothing, jewellery, home-wares.
3
Q
Service providing
A
A business that performs tasks for customers.
e.g. Law firms, school, electricians, airlines.
