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Ways of Classifying Business

Sectors of the Economy:

  • primary sector
  • secondary sector
  • tertiary sector

Private and Public Ownership

  • Private Sector Businesses:
  • sole traders
  • partnerships
  • private limited companies
  • public limited companies
  • franchises
  • limited liability partnerships
  • Public Sector Businesses
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Measuring the Size of a Business

  • number of employees: small<50<medium<250<large
  • number of factories or shops
  • turnover level: small<£2 million<medium<£8 million<large
  • stock market value (PLCs only)
  • capital employed
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