Types of Business Organizations

Private limited company  --> Ernst & Young : is one of the largest professional services firms in the world and one of the "Big Four" accountancy firms.

Public limited company --> Apple : is an American multinational corporation that designs and markets consumer electronics, computer software, and personal computers. 

Public corporation --> CocaCola : is a carbonated soft drink.

Non-profit organization ( Any organization that has aims other than making and sitributing profit and is usally goverened by a voluntary board) --> Trees 4 Children : Trees 4 Children has secured the support from USAID and other global partners to help plant 30,000 Melia Trees per year which will be propagated and harvested for the long-term value of its timber.

Non-governmental organization (A legally constituted body with no participation or representation of any government)  --> Action against hunger:  is an international humanitarian organization with a focus on ending world hunger.

Pressure group (An organization created by people with a common interest or objective who lobby businesses and governments to change policies so that the objective is reached) -->  is an international humanitarian organization with a focus on ending world hunger.

Social enterprise (A proper business that makes money in socially responsible ways and uses most of any surplus made to benfit society.) --> The Eden Project :  is a visitor attraction in Cornwall in the United Kingdom, including the world's largest greenhouse

Public-private partnership ( Involvement of the private sector in the form of management expertise and/or financial investment in public sector projects aimed at benefiting the public.) -->  World Bank:  is an international financial institution that provides loans to developing countries for capital programmes. The World Bank's official goal is the reduction of poverty.

Starting a Business

It is not easy to start a new business,one must be skilled in many areas to be successful. There are many reasons a business could fail like competition, building a customer base or lack of record keeping. Competition is almost always a problem for new businesses unless it is a original idea. A business will generally experience competition from more experienced business with more knowledge. In order for a business to survive, it must establish itself in the market and build a reliable customer base. the longer the business survives the bigger the customer base gets. Lack of record keeping is a common issue when it comes to failed businesses. Many entrepreneurs fail to keep accurate recording,they believe that it is  less important than meeting the customers' needs.

Lack of working capital,Poor management skills and changes in business environment are also major issues entrepreneurs fail to run a successful business. Lack of working capital is when the entrepreneur runs out of money to keep his business going. This happens to a lot of businesses and that causes them to shut down. Most entrepreneurs have had some form of work experience,but not necessarily at a management level. They have not gained the experience they need to run a successful business. there is always the risk of change,many businesses can change if one of the following changes occur : new competitors,legal changes,economic changes and technological changes.