Types of Business

The latest unit of the course covered different types of businesses. Please answer the following questions to demonstrate your understanding of the information taught in the course.

1. The class looked at the following types of business ownership;

• Sole proprietorships,
• Partners,
• Corporations,
• Cooperatives,
• Franchises

Select 3 of the above and explain the term as a type of business ownership.

2. Is small business really the small? Explain the importance of small business to Canada.

3. If you started a business tomorrow, what kind of business would you select? Why?