• Sole proprietorship
• Partnership
• Joint store company
• Corporative societies
• Non-Governmental organization(NGO)
• Public enterprises or cooperation.

Business unit differs with each other in the following ways;

• Ownership
• Mannagement and control
• The size of the Business
• The objective of the business
• The source of capital or Finance.
• The disposition of profit i.e how profit are used.

A SOLE PROPRIETOR BUSINESS(ONE MAN BUSINESS)

            A one man business is a business owned, finance and managed by one person with the aim of making profit. E.g electrician, shoemaker tailor.

Characteristic of a sole proprietorship

• Ownership : A sole trader type of business is owned by one person
• Objective : The main objective of one man business is to create self employment and make profit.
• Source of finance : The capital to set and run the business is provided by the sole proprietor could loose some of his/her personal properties.
• Management : A one man business is controlled and managed by the sole proprietor alone. Number of persons involved.

DISADVANTAGES OF A SOLE PROPRIETORSHIP

• Unlimited liability : This means that in case of a business failior a sole proprietor migh loose not only the business but also some of his personal assets belongings.
• Limited Capital : The sole proprietor has inadequate capital because of his limited ability to race funds outside his business.
• Risk Bearing : The risk inqured in setting up and running the business is done only by the sole propriertor.
• Lack of Continuity : The death of the sole proprietor may end the business.
• Health Hazards : The sole proprietor work for long hours without holidays thus exposing themselves to health hazards like stress.
• Poor Management : Since the sole proprietor  does not consult expert they turn out to manange their business poorly.

ADVANTAGES OF SOLE PROPRIETORSHIP

• Enjoy profit alone : The sole trader works very hard for the profit and therefore enjoyes it alone.
• Quick decisions : Since the sole trader does not consult and body on making decision, it obviously leads to quick decisions.
• Easy to establish : It is easy to establish because it involves no formalities and only a small capital is needed in certain cases.
• Easy to manage : Since it is a one man business, it can easily be managed with expert management from outside the country.
• Privacy : The sole proprietor keeps secret since he/she is not require to publish his account.

SOURCE OF CAPITAL TO A ONE MAN BUSINESS

Internal sources

• Past savings
• Sell outdated assets
• Advances from customers
• Depreciation charges.

External Sources

• Borowing from commercial Banks
• Borrowing from Njangi or meeting council.
• Trade credits
• Ground and subsidies from the government
• Hire purchase
• Assistance from law governmental organization.
• Leasing it is an agreement or penal agreement it is an agreement