What are the four main types of businesses? - ProProfs Discuss
Advertisement

What are the four main types of businesses?

Asked by Shi yin Khoo, Last updated: Oct 08, 2024

+ Answer
Request
Question menu
Vote up Vote down

1 Answer

Anika Nicole

Anika Nicole

Content Writer, Teacher

Anika Nicole
Anika Nicole, Wordsmith, PG In Journalism, New York

Answered Mar 05, 2019

The four major types of businesses are:

  • Service business: This type of business provides intangible products (products with no physical form) to consumers. Service businesses offer professional skills and expertise. Examples are salons, banks, law firms, accounting firms, and banks.
  • Merchandising business: This type of business buys products at a fixed price and resells at a retail price. Examples include grocery stores and distributors.
  • Manufacturing business: This type of business buys the product and redefine it into a new product. The transformed product is what is sold out to the consumers.
  • Hybrid business: It is a type of business that may be classified in more than one type of business. An example of this is a restaurant, a restaurant makes use of ingredients to make a meal (manufacturing), sells drinks (merchandise) and fills customer orders (service).

Sometimes, forms of businesses (sole proprietorship, partnership, corporation, corporative and Limited Liability Company) are often mistaken as types of businesses.

upvote downvote
Reply 

Advertisement
Advertisement
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader
Image Preview
Search for Google images Google Image Icon
Select a recommended image
Upload from your computer Loader

Email Sent
We have sent an email to your address "" with instructions to reset your password.