Types of Businesses

Welcome to unit VCE Business Management. This is an amazing opportunity for you to do really well. The course begins with some business fundamentals which will carry throughout the rest of the course. Because of this, it is important to keep it fresh in your mind as the content you learn over the next 11 videos can be linked to many other areas of both unit 3 and unit 4. Good luck!

Types of Businesses

Video 1 – Sole Trader & Partnerships

Video 2 – Companies

Video 3 – Social Enterprise & GBE

Test Your Knowledge

  1. Identify the 6 types of businesses
  2. Distinguish between a sole trader and a private limited company
  3. Compare a public listed company and a private limited company
  4. Mel is looking to open a hair dressing salon as a sole trader. Outline the advantages and disadvantages if he was to do this
  5. Describe what a social enterprise is
  6. Identify 3 disadvantages of a partnership
  7. Define a government business enterprise