Type Of Ownership

A business may be owned by an individual or a group of persons having some common interest. When it is run by an individual, the ownership is termed as Sole Trader Enterprise. In case of more than one owner, the ownership may be partnership firm, a company or a cooperative society.

On the basis of size, the business may be classified as cottage industry, small scale industry (SSI), medium or heavy industry. Similarly, if the business may be owned by private sector, Government or public sector, or combination of these two (also, called as joint sector company).