Types of companies

[Trexxxy]

I don't think you can classify the agricultural sector as primary. I think the classification is based on the country's main export, if a country exports oil more, and it contributes a lot to its GDP, then oil is its primary sector.

 

[babdud02]

Classification can help or assist in determining business segments which will help in establishing according to the primary type of economic activity.

 

[Kunkun]

First time knowing about this classification but it looks good because classification helps to make thins easier so I'm sure that's the aim for the classification in the first place

 

[Ralphjoe]

You are trying to classify companies based on their working area or niche. Companies are basically classified according to the paid up capital.

There are several ways through which companies are being classified. The best way that I love so much that companies are being classified is by their ownership, this way the sole proprietorship can be differentiated from partnership and also limited liability company can be differentiated from a public and private limited liability company.

 

[Shigobad20201]

I don't think you can classify the agricultural sector as primary. I think the classification is based on the country's main export, if a country exports oil more, and it contributes a lot to its GDP, then oil is its primary sector.

Agricultural sector can be classified in primary sectors in differentiating and classifying sectors in Nigeria, because agriculture has a wide range of subsectors , where we can export cocoa , oil.

 

[Trexxxy]

The agricultural sector can be classified into primary sectors in differentiating and classifying sectors in Nigeria because agriculture has a wide range of subsectors, where we can export cocoa, oil.

Sure, but can you say the exportation of cocoa and other agricultural produce make up half of the total GDP??. I know ghana is the biggest exporter of cocoa in Africa and Nigeria doesn't even come close.

 

[Josemendez]

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?

Ofcourse the classification helps one to know the strength of the business. This is why the taxation is not the same for all these companies. It is ideal for the entrepreneur to know the class of the business he is entering

 

[Psalmseen]

We have different kind of companies. We have the company that deals with the extraction if raw materials in their raw form, these are called primary company. We also have those that turn it into finished goods

 

[Justin]

If you do not have skills or knowledge in running a business, perhaps buying shares in a public limited companies is the best option to make use of your money

 

[Haveit]

I think that these classifications are merely grouping just to know where one belongs and other types of companies too so as to be able to categories and differentiate them.

 

[Ralphjoe]

I think that these classifications are merely grouping just to know where one belongs and other types of companies too so as to be able to categories and differentiate them.

All these categorisations of business is just to be able to differentiate businesses from each other and to know the characteristics of each business so that whenever you want to start up a business you will know what you are up against I want you need to put in place to make it more successful.

 

[Sariana23]

I think one of the purpose for classification is to create a form of order in the market system, every business falls into one class or the order. And it makes it easier for these companies to know themselves and know the set of people they are try to attract to the business

I continue to love your posts @eLdavis , they are full of knowledge. Exactly the purpose of such classifications is the one you express. Each business is classified where it belongs, in order to join forces, in order to hold conventions, discuss certain points that concern exclusively to these companies. Also it is with the purpose of giving facility to the clients, as far as the search of a company in this classification.

Exactly! There are.different classification of industries. We have the primary industry that deals with the extraction of raw materials in their raw form as well as secondary that converts them into useable goods and tertiary that provides services

The type of classification you express is related to the same industry. The primary way, the usable way and the supply of the final product. The classification as such of all the companies in your country, how do they exist? Are they divided according to their purpose?

I really don't know much about sectors in companies,but I do understand why you post here as thread,but I would like to learn more from those who know better about different sectors in companies.

If you are interested in the thread, you can keep an eye on the members' posts, we are all here to learn from the experienced ones. I am also learning from them and how to run companies in other countries.

Ofcourse the classification helps one to know the strength of the business. This is why the taxation is not the same for all these companies. It is ideal for the entrepreneur to know the class of the business he is entering

Exactly @Josemendez , the taxation will never be the same, each of these companies is different, that's why I believe the importance of classification. With respect to the entrepreneur, I give a lot of importance to the fact that he/she must know in which classification he/she is entering.

 

[eLdavis]

Thank you so much for the compliment @Sariana23

I continue to love your posts @eLdavis , they are full of knowledge. Exactly the purpose of such classifications is the one you express. Each business is classified where it belongs, in order to join forces, in order to hold conventions, discuss certain points that concern exclusively to these companies. Also it is with the purpose of giving facility to the clients, as far as the search of a company in this classification.

The type of classification you express is related to the same industry. The primary way, the usable way and the supply of the final product. The classification as such of all the companies in your country, how do they exist? Are they divided according to their purpose?

If you are interested in the thread, you can keep an eye on the members' posts, we are all here to learn from the experienced ones. I am also learning from them and how to run companies in other countries.


Exactly @Josemendez , the taxation will never be the same, each of these companies is different, that's why I believe the importance of classification. With respect to the entrepreneur, I give a lot of importance to the fact that he/she must know in which classification he/she is entering.

 

[Lens]

I am aware of classifications, it's the same in my country. The reason for the classification is because of the country's budget and allocation. The primary companies are the most important and will likely get a higher allocation from the government

 

[Ub40]

Linking your thread topic to the thread contents, I am not sure if I understand you. The title says types of company and you listed primary and secondary sectors. I thought there are two types of companies, which are private company and public company. Just thinking, and I stand to be corrected.

 

[Sariana23]

Thank you so much for the compliment @Sariana23

I like to read information that really relates to the subject, and gives us clarity when making decisions or clarifying doubts.

I am aware of classifications, it's the same in my country. The reason for the classification is because of the country's budget and allocation. The primary companies are the most important and will likely get a higher allocation from the government

You are right, the assignments are given according to the classification, which adds importance to it. As you describe it, the government allocates resources according to importance and priority.

Linking your thread topic to the thread contents, I am not sure if I understand you. The title says types of company and you listed primary and secondary sectors. I thought there are two types of companies, which are private company and public company. Just thinking, and I stand to be corrected.

Companies are classified in different ways, according to their size, activity, company, origin, etc.
All classifications are given with a specific purpose, always looking for improvements, either for the entrepreneur, customers or government entities.

 

[Lordfalcao]

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 classification of companies to me personally is kind of ideal or an ideal thing to do because classifying companies help them focus on they area of specialization or classification with being interrupted by any other contradictory companies.

 

[Lens]

I like to read information that really relates to the subject, and gives us clarity when making decisions or clarifying doubts.

You are right, the assignments are given according to the classification, which adds importance to it. As you describe it, the government allocates resources according to importance and priority.

Companies are classified in different ways, according to their size, activity, company, origin, etc.
All classifications are given with a specific purpose, always looking for improvements, either for the entrepreneur, customers or government entities.

Basically, the companies that belongs to the primary sector are into manufacturing of essential products. Essential products like food , drugs etc . They are likely to be considered first in the budgetary allocations and sharing.

 

[Sariana23]

The classification of companies to me personally is kind of ideal or an ideal thing to do because classifying companies help them focus on they area of specialization or classification with being interrupted by any other contradictory companies.

This is correct, since the subjects dealt with in a classified company are not related to companies of another branch. This is one of the benefits of the separation of companies in terms of their economic activity.

Basically, the companies that belongs to the primary sector are into manufacturing of essential products. Essential products like food , drugs etc . They are likely to be considered first in the budgetary allocations and sharing.

Yes, the government to give any benefits are the first to be taken into account. In the case of your country, the classification is given in the same way as described in the thread?

 

[Lens]

This is correct, since the subjects dealt with in a classified company are not related to companies of another branch. This is one of the benefits of the separation of companies in terms of their economic activity.

Yes, the government to give any benefits are the first to be taken into account. In the case of your country, the classification is given in the same way as described in the thread?

The reason being that, the impact of the government could felt by the citzenry by empowering the primary sectors of the economy. Everyone depends on the goods or products coming out of the companies classified in the said sector and it is pertinent that the government consider it first