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Business is an enterprise that combines all its factors of production to produce goods and services. In the UK, enterprises are owned by both public and private sectors to provide goods and services in order to make profit. In order to understand it in easy way, educational institutions are providing business education to their student to help them to become a successful entrepreneur. For this purpose students frequently requires business essays to evaluate their capability of obtaining good grades
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As business is a typical subject that consist of many types of organisations which are as follows:
- Sole Trader: is completely owned and run by only one person. It has unlimited liability.
- Partnership: it consists of two or more partners who are agreed to run a business together by forming an agreement.
- Corporations: has a separate legal identity of its own and it enjoys the benefit of limited liability.
- Cooperative: also known as co-op, that is owned by its member not from shareholder.
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