Types of companies

[Ralphjoe]

In my countries companies are mostly classified by their ownership structure and their legal status. This does not mean that they cannot be classified by other means but these indices are more widespread in my country. Companies are mostly called sole proprietorship, limited liability and partnership.

 

[Sariana23]

In my countries companies are mostly classified by their ownership structure and their legal status. This does not mean that they cannot be classified by other means but these indices are more widespread in my country. Companies are mostly called sole proprietorship, limited liability and partnership.

Ah ok @Ralphjoe , here I read in another publication that they are also clacified in that way. In my country there is also this type of clacification and besides the one I described. I understand that each country has its own methods.

 

[joy101]

That is very good to know about the the types of company that is involved, and this your teaching really sound new to me and I have really learn from it.

 

[Sariana23]

That is very good to know about the the types of company that is involved, and this your teaching really sound new to me and I have really learn from it.

It is good that it has helped you @joy101 , it is good to read and learn, since in this thread I have also learned how it works in other countries, since you never know when we need this information. I love to read to learn just like you

 

[Heatman]

Personally, I don't really care much about how companies are classified because the only classification of companies that matters to me are public limited liability companies and private ones.

 

[GIFTMICHAEL]

Their are different companies indeed based on what you stated, and that's how it is too. I belong in the agricultural sector/livestock.

 

[Mostee501]

There are different types of companies ranging from personal company, limited liability,public limited company. Some are limited by either shares and guarantee.

 

[Kelly5]

There is no such clearcut classification of companies that way in my country that I know of. If classification like that should exist, then it I very important for one to know what class his business is in

 

[Richard92]

There are different types of company presently in existence we have the partnership company this kind of company is been start up by two or more individuals why we have the private company and also the public company as the name implies both of them are self-explanatory.

 

[Sariana23]

Their are different companies indeed based on what you stated, and that's how it is too. I belong in the agricultural sector/livestock.

In fact, companies are classified according to their legal form as sole proprietorship, limited liability and partnership. But according to their economic activity in my country they are classified as I described. Also according to their size they are classified in small, medium and large.

 

[Eodine]

Primary sector of business involves directly with the basic need of man from food, clothing and shelter while the secondary is more like a way to make money from other activities.

 

[Sariana23]

Primary sector of business involves directly with the basic need of man from food, clothing and shelter while the secondary is more like a way to make money from other activities.

You are absolutely right, this is how they are classified in my country, is it the same in yours? or is there no such classification? I modified the thread placing the type of classification by its economy, maybe there are other countries with this classification.

 

[Shigobad20201]

There are three types of companies according to their economic activity..:

Primary sector companies. Agriculture, livestock, fishing, and mining. ...
Secondary sector companies (industrial). Companies engaged in industry and construction, i.e., the transformation of goods.
Companies in the tertiary sector (service sector).

What is the purpose of classifying companies by type of activity? Is it important for an entrepreneur to know where he/she is in the classification? Are the regulatory rules the same for each case?

There are many types of companies like you said and we have three or more type of company, one is primary sector that deal's with agricultural sectors entirely while the secondary deals with industrial companies and the last one is the tertiary sector.

 

[Spicywilfred]

There are different classification for business like you have stated out, why there are classification is for identification purposes also in terms of business groups classification is required.

 

[Sariana23]

There are many types of companies like you said and we have three or more type of company, one is primary sector that deal's with agricultural sectors entirely while the secondary deals with industrial companies and the last one is the tertiary sector.

That is correct, so this classification is similar to ours. I had my doubts that's why I created the thread hoping for guidance and information from other countries. I have learned a lot so far in this thread, it is something that really fulfills my expectations.

 

[Eodine]

You are absolutely right, this is how they are classified in my country, is it the same in yours? or is there no such classification? I modified the thread placing the type of classification by its economy, maybe there are other countries with this classification.

It's the same in my country and it's the same with most countries too I think because the basic need is one country is same with another country as we humans have common basic needs.

 

[Fizzy_boi]

I'm not aware how the classification goes but I think in business it should private and public going to sole proprietorship and multiple proprietorship it shows been controlled by a body and multiple.

 

[GIFTMICHAEL]

In fact, companies are classified according to their legal form as sole proprietorship, limited liability and partnership. But according to their economic activity in my country they are classified as I described. Also according to their size they are classified in small, medium and large.

You said it all @Sariana23. Every company is classified based on the productive side, if it has large number of employees, and staff with a big budget. It will be Worthy of being classified as a large scale type.

 

[Dowenship]

There are three types of companies according to their economic activity..:

Primary sector companies. Agriculture, livestock, fishing, and mining. ...
Secondary sector companies (industrial). Companies engaged in industry and construction, i.e., the transformation of goods.
Companies in the tertiary sector (service sector).

What is the purpose of classifying companies by type of activity? Is it important for an entrepreneur to know where he/she is in the classification? Are the regulatory rules the same for each case?

The propose of clarifying this companies into different sectors is because we can differentiate there different purpose which also makes it easier for customers to relate with... so it important for any entrepreneur to know his our her classification...

 

[Richard92]

There are many types of companies like you said and we have three or more type of company, one is primary sector that deal's with agricultural sectors entirely while the secondary deals with industrial companies and the last one is the tertiary sector.

they are different type of companies we have public liability companies and also private liability companies under the private liability companies we have the joint ventures which is also known as partnership and will also have sole proprietorship which is known as one man business these are the various type of company we practice here in Nigeria.