Today, in this post, the author wants to share some types of business ownership that operate in Malaysia at the moment. Everyone knows how to run a business, but not everyone knows the type of business that exists in Malaysia now. All they know is business. So here, in this post, let’s discuss and share a little knowledge about the type of ownership along with the advantages and disadvantages of that type of business. Binary mlm plan has it for you.
There are three (3) main types of business ownership in our country, Malaysia, among them are:
1) Sole Proprietorship
2) Partnership and
Let’s get to know this type of businesses more down below;
Millikan Tunggal or Sole Proprietorship
First and foremost, this type of business is usually owned by a specific individual. It is managed by the business owner himself. The business is small in size and easy to manage. As the owner, it receives all the proceeds of the business and bears all the risks incurred by its business. Many businesses choose to run this sole proprietorship.
Example of sole proprietorship names: Ali Kedai Runcit, Abu Enterprise
Perkongsian or Partnership
Second business on this list is partnership. This business is owned by at least two people or a maximum of 20 people who will share the profits according to a certain rate agreed upon together, (usually have to make a little agreement so as not to quarrel later). Income, risks and responsibilities are shared by all business partners. Each partner must reach an agreement on a number of things such as the amount of money invested, the work that should be distributed, the distribution of profits or losses and many more. If the business has a partnership agreement, all business dealings must refer to the agreement.
Examples of partnership business names; Chong and Partners Clinic, Ali and Adriana Law Firm.
Limited Liability Company (Private Limited And Limited) aka Company
A form of business owned by many owners through shareholding in the company. The owner can transfer ownership through the sale of the shares he holds. The owner has a liability limited to the capital invested only. The owner divides the profit, risk and responsibility depending on the number of shares owned. The owner is also not involved in daily business activities of the company unless the owner holds a position in the management of the company. The interests of the owner are taken care of by the Board of Directors of the company.
Examples of business names; Sevenec Raven Sdn Bhd, Pretty Little Things Sdn Bhd, Clear Vision Sdn Bhd.
Other than stated above, there are some other types of business that are very popular such as mlm companies. These mlm companies then would use binary mlm plan to organize their business well. Maybe you could do the same.
In the selection of this type of ownership, we also need to know the advantages and disadvantages of each one, why must we know? Because when we already know, we are happy to choose right and can choose correctly. That is all for this post titled Types Of Business Ownership: Sole, PLL And MLM.