Types of companies

[Jlife]

To me believe all these things are not really necessary because they are not going to be a factor if you're thinking of establishing a businessm you just need to identify the type of business you're interested to start and go ahead and do it.

 

[Ralphjoe]

Okay, everyone has their own interests and depending on how things are handled in their country, you can downplay it. In my country it is different and this classification is important, both for the owner and for government entities, even when registering the company, you should already know where it is within the classification.

It's not as if classifying business is not important in my country but I don't think that it should be one of the most important issues that any business want to consider before you start up.

 

[Sariana23]

It's not as if classifying business is not important in my country but I don't think that it should be one of the most important issues that any business want to consider before you start up.

Ok I understand, yes it does matter, but you think it is not the most important thing to consider before starting. In my country, just by the type of business is already understood the place in the classification, however, you must follow the regular channels.

 

[Ezekiel]

There are diverse reasons of classifying companies one for identification,two to know their tax rate,to be able to distinguish them,even based on their production

 

[Ralphjoe]

Ok I understand, yes it does matter, but you think it is not the most important thing to consider before starting. In my country, just by the type of business is already understood the place in the classification, however, you must follow the regular channels.

Well it's a good thing that you know the class that your company follow so that you can follow the right procedures for you to start up the business and get the requisite licences for that business.

 

[Sariana23]

There are diverse reasons of classifying companies one for identification,two to know their tax rate,to be able to distinguish them,even based on their production

Excellent, these are good reasons why it is important to know the company rankings, which are valid. This attracts benefits in the aspects described, including the possibility of being benefited by the governmental entity.

Well it's a good thing that you know the class that your company follow so that you can follow the right procedures for you to start up the business and get the requisite licences for that business.

It is true @Ralphjoe, when you fill out the permits to grant the license, you must add in them the classification of the company, after that and delivering what is necessary, you will be able to work without inconveniences.

 

[Ralphjoe]

Excellent, these are good reasons why it is important to know the company rankings, which are valid. This attracts benefits in the aspects described, including the possibility of being benefited by the governmental entity.

It is true @Ralphjoe, when you fill out the permits to grant the license, you must add in them the classification of the company, after that and delivering what is necessary, you will be able to work without inconveniences.

Well I do not see the reasons why anyone that want to start up a business with no no the classification of the business that he or she want to start up if there is anybody like that then that person do not deserve to start up any business at all.

 

[Oliver4smile]

Truly there are different types of companies even here in my country too, sometimes they are being classified by the size of the company, the product, and also sometimes the services they render.

 

[YERUS]

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?

It is good to know what sector of business or company you are in.
However, i do not know if these sectors have different regulatory rules.
I will say my business falls under the service sector.

 

[Ralphjoe]

Truly there are different types of companies even here in my country too, sometimes they are being classified by the size of the company, the product, and also sometimes the services they render.

I think the best way to categorise companies should be based on the kind of product and services that they offer to the public as this will go a long way in in giving the business or company its identity in the economic way of life.

 

[Toyoabasi]

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?

Okay.
Now I know my business falls under primary sector companies.
I do not know If there are any regulatory rules for these classes of companies.

 

[Sariana23]

Well I do not see the reasons why anyone that want to start up a business with no no the classification of the business that he or she want to start up if there is anybody like that then that person do not deserve to start up any business at all.

Each country works differently, if in your country they allow to have a business without classifying it is fine, entrepreneurs should take advantage of it since less documents are required, in my country it should be classified.

Truly there are different types of companies even here in my country too, sometimes they are being classified by the size of the company, the product, and also sometimes the services they render.

Excellent @Oliver4smile, that's what I mean, there are different ways to classify businesses, the ones you described are valid in my country.

It is good to know what sector of business or company you are in.
However, i do not know if these sectors have different regulatory rules.
I will say my business falls under the service sector.

Okay.
Now I know my business falls under primary sector companies.
I do not know If there are any regulatory rules for these classes of companies.

In my country there are common rules for all businesses in general, but depending on their classification there are others that must be complied with.

 

[Ralphjoe]

Each country works differently, if in your country they allow to have a business without classifying it is fine, entrepreneurs should take advantage of it since less documents are required, in my country it should be classified.

Excellent @Oliver4smile, that's what I mean, there are different ways to classify businesses, the ones you described are valid in my country.


In my country there are common rules for all businesses in general, but depending on their classification there are others that must be complied with.

There are certain small scale businesses in my country that does not require is a lot of documentation to bring them to life in fact you don't need to register anything with them. It is only big businesses that requires a lot of registration and documentation to start it up.

 

[Solutionav]

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?

Wow interesting I never knew we had classification of companies, this is the first time am hearing this, as an entrepreneur I don't thing you have any business in knowing the classification of company, just make research and have capital to start up

 

[Kvngsammy]

I'll say in a way you've answered the questions you asked yourself. An entrepreneur would need to know the industry guidelines and practices that are acceptable for the successful working. Rules or methods that would be acceptable in the service sector wouldn't be same with the agricultural sector or mining sector

 

[Sariana23]

There are certain small scale businesses in my country that does not require is a lot of documentation to bring them to life in fact you don't need to register anything with them. It is only big businesses that requires a lot of registration and documentation to start it up.

In my country there are also small companies that have started without registration and have been operating for years without problems, but if the government agents pass by and ask for the documents, they immediately close them and cannot open them until they comply with the law.

Wow interesting I never knew we had classification of companies, this is the first time am hearing this, as an entrepreneur I don't thing you have any business in knowing the classification of company, just make research and have capital to start up

Surely in your country the classification is not necessary or according to your knowledge, however in my country the importance exists which leads to different benefits. Each company is classified according to the products or services to be offered.

I'll say in a way you've answered the questions you asked yourself. An entrepreneur would need to know the industry guidelines and practices that are acceptable for the successful working. Rules or methods that would be acceptable in the service sector wouldn't be same with the agricultural sector or mining sector

Exactly @HayKay, you got the point, the agricultural sector and the mining sector are totally different although both are businesses, hence each is treated with different rules and in turn government benefits according to their priority.

 

[Seno inyang]

There are various types of companies; company limited by shares
company limited by guarantee
unlimited liability company

 

[Nass1]

In my own country there's alot of companies, like primary company which are classified as mining , fishing, agriculture, these are the functions of primary companies while secondary are just classified into 2 categories.

 

[Ralphjoe]

In my country there are also small companies that have started without registration and have been operating for years without problems, but if the government agents pass by and ask for the documents, they immediately close them and cannot open them until they comply with the law.

Surely in your country the classification is not necessary or according to your knowledge, however in my country the importance exists which leads to different benefits. Each company is classified according to the products or services to be offered.

Exactly @HayKay, you got the point, the agricultural sector and the mining sector are totally different although both are businesses, hence each is treated with different rules and in turn government benefits according to their priority.

Wow it's a good thing that your government are very vigilant in keeping up with all small businesses that are operating in the country. I can't say the same thing about my country's government because they have been so lazy in keeping any record or keeping tab on the number of small businesses in the country.

 

[Sariana23]

In my own country there's alot of companies, like primary company which are classified as mining , fishing, agriculture, these are the functions of primary companies while secondary are just classified into 2 categories.

Excellent, that's what I mean about rankings, this goes with the level of importance of each company and human being. In the case of the primary ones, they are usually related to food.

Wow it's a good thing that your government are very vigilant in keeping up with all small businesses that are operating in the country. I can't say the same thing about my country's government because they have been so lazy in keeping any record or keeping tab on the number of small businesses in the country.

I cannot say that the government has a total control of the amount of companies that exist, since many of them have not registered according to the law, that is why they send agents to inspect by zones and review the documentation of the businesses.