Do you know about business? Business is familiar to us. In general, a business can be done by anyone, which is now supported by the increasingly advanced technology. I think business is luck. It means that all of the activities we do, can generate profit. With business, we will assume that ourself is a boss. We can develop great idea become obvious. According to John & William, business is all profit directed from all economic activities that are organized and directed to provide goods and services (Reinecke, 1984, page 27 ). This essay will explain the business development which consists of proprietorship, partnership, and corporation.
One of business types is proprietorship. A proprietorship is a business owned by one person (Kieso, Kimmel, Weygandt, 2015, page 10). In this business, the owner has the right to save and invest money to make a profit. The owner receives any profits, and suffer any losses.
The owner also managed the business by herself or himself. However, the owner may ask others for help in running the business. The example for proprietorship business is entrepreneur.
Usually, an entrepreneur has a relatively small amount of money to start a business. One of an entrepreneur who succeed in business is Bill Gates. He is the owner of Microsoft. Another example is a small service business, such as beauty salons. Beauty salons only provide products with no physical form, but offer professional skills. I think, this business is suitable as the basis to start business.
The next type is partnership. Partnership is defined as an association of two or more persons to carry on as co-owners of a business for profit ( Reinecke, 1984, page 65 ). This business usually uses names of the partners. Then, each partner has to contribute money, skills, and participation in managing the business. Each partner also shares the profits. If they have losses, it must be shared too. The example of partnerships business is organization retail (Reseller). Organization retail or Reseller buys products at wholesale price and sell the same at retail price. They are known as "buy and sell businesses". Organization retail or Reseller sells a product without changing its form. They make a profit by selling the products at higher prices  than their purchase cost. One of reseller examples is Carrefour which is the second largest retailer in  the world. In my opinion, we can do this type of business, but in small scale than the other types of business.
The last type business is corporation. A business organized as a separate legal entity under corporation law and having ownership divided into transferable shares is a corporation (Kieso, Kimmel, Weygandt, 2015, page 10). Usually, the owners of a corporation are shareholders or stakeholders. In a corporation, all of them are controlled by the government. Therefore, this business is very legal in law. The example of  a corporation is manufacturing business.  Manufacturing business buys products with the intention of using them as materials in making a new product. But, there is a transformation of the product purchased. A manufacturing business combines raw materials, labor, and factory overhead in its production process. The manufactured goods will then be sold to costumers. Nowadays, there are so  many succesful manufacturing businesses in Indonesia, one of which is Unilever Company that has a separate legal entity.
From the three types of business above , the most famous business is partnership or reseller business, which can  do by everyone, especially for college students. So, as a college student, there’s no harm to try that business, in which we serve as a distributor, but we still get profit sharing.
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References
Kimmel, P. D., Kieso, D. E., & Weygandt, J. J. (2015). Financial Accounting. Asia: Printplus Ltd.
Reinecke, J. A., & Schoell, W. F. (1983).Introduction to Business. United States: Elaine Ober.
