types of businesses (slides six) Flashcards
what is an online business?
a business that runs partially/solely from the internet
why are online businesses useful?
they can help aspiring entrepreneurs, regardless of age/experience
it’s easy to access and sell to people all over the world
what is an on-demand business?
on-demand businesses use technology/apps to maximise customer service. they often include;
- deliveries
- order ahead
how many people in a micro business?
fewer than five people
how many people in a small business?
5-20 employees
how many people in a medium business?
20-199 employees
how many people in a large business?
more than 200 employees
what are SMEs?
small to medium enterprises
SMEs make up 98% of all aussie businesses
aussie economy relies heavily on SMEs, they provide employment for around 7 million people
what are global businesses?
a large company with branches in different countries
global businesses are also known as translation corporations (TNCs)
what are offshore busineses?
when businesses get their functions completed in other countries
why can offshore businesses be unethical?
it is taking advantage of developing country’s cheaper production costs;
- lower wages
- less strict environmental wages
this often leads to sweatshops, especially for clothing businesses
TNCs take advantage of low-income countries where workers work very long hours + low pay in unsafe working conditions
what are government businesses?
businesses government owned and operated
they provide community services;
- health
- education
- welfare
aussie examples;
- Australia post
- NBN Co.
- Sydney water
- Sydney trains
what are not-for-profit organisations?
businesses that offer services to the community with no profit for its owners
all money earned goes back into the services the business is providing
these businesses usually don’t have to pay as much tax (tax concession)
examples;
- charities
- cultural societies
- community service
organisations
