Hi everyone, today we will be talking about business, this includes what business is all about, the types of business, and the benefits,
At the end of this tutorial you should be able to understand the major facts about business
Let’s Start by knowing what the term business means.
What is business
One of the major challenges our new entrepreneurs face is deciding what type of business they should Enroll in. Although there are several different types of businesses, choosing one shouldn’t be a difficult task, in this tutorial I will be listing just three.
So now let’s look at the three types of business one can register.
- Sole Proprietorship: This is known as one man business because it’s a type of business that operates with one individual, it is usually owned by one person.
- limited Partner. This is a type of business that is often run by two (2) or more individuals these individuals might includes Operators and Investors.
- Corporation: This is a type of association of large companies or group of companies authorized to act as a single entity and recognized as such in law.
Now after listing the types now i think it’s time to know the benefits of having a business, you need to know the benefits of being a business owner.
Benefits of owning a business
Though there are many benefits of owning a business but in this aspect we will be listing just five.
- It makes you feel independent: As a business owner, you’re your own boss.
- Freedom: You have the freedom to make the decisions that are crucial to your own business success.
- It Changes Your Lifestyle: As an individual when you register a a business it give you some certain lifestyle advantages. Because you’re in charge, you decide when and where you want to work.
- Financial rewards: Running your own business gives you a chance to make more money than if you were employed by someone else.
- Personal Satisfaction: As a business owner, you’ll be able to work in a field that you really enjoy.
Alright thanks for taking time to read this hope this tutorial has added more than enough to you. Stay tuned for our next tutorial….