P1-Describe the type of business, purpose and ownership of two contrasting businesses Range of different businesses
There are different types of business, from local to global. Local businesses are those that set up in local towns. The businesses that start to expand across the country are considered to be national. When business starts to sell goods abroad it becomes international. Businesses that spread across the globe are called global businesses. The table below shows examples of each type of business: Local
Public, private and voluntary businesses
Businesses can be also divided into private, public and voluntary. The private sector companies are owned by private individuals i.e. Apple, Tesco. These are interested in making money. The public sector companies are those more interested in benefiting society than making profit, these are owned by the government. Voluntary businesses are organisations that are set up not to make a profit but to help for those in need. These organisations are run by people who are volunteering for a good cause. The table below consists of different sector companies: Private
| NHS Hospitals
| Save the Children
| Police Force
| Breast Cancer UK
| Fire Services
| Red Cross
Marks & Spencer
| Epping Forest College
Further business can be classified into primary, secondary and tertiary sectors. Primary sector is collecting raw products from nature i.e. agriculture. Secondary sector is producing those raw materials into finished or part-finished products. Tertiary sector is providing services i.e. entertainment, insurance, banking, retailing.
There are different types of ownerships within the business. * Sole trader – it is a...
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