All types of business mainly include:

(a) Manufacturer, (b) Wholesaler, (c) Retailer and it also includes marketing representative, transportation, warehousing, banking, insurance, storage etc. The main aim of any business is to give more satisfaction and quality to customers. Mainly four types of business organizations i.e.,

(a) The Sole Trader (Proprietorship)

(b) The General Partnership (Private Ltd.)

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(c) The Joint Stock Company (Public Ltd.)

(d) Corporation – (i) Co-operation (ii) Public corporation

The Sole Trader (Proprietorship) is the simplest form of business organisation in which one man show and controlled by one person. Example: retail drug store.

Advantages:

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(a) Less man power required

(b) Ease to start the business

(c) Capital of business can be increased or decreased

(d) Direct contact with customer, convenient to give more customer satisfaction

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(e) The business includes both manufacturing and selling activities being concerned with both the producer and the trader who purchases.

The main purpose of any business is to earn the profits and send the product from manufacturer to consumers.