02/07/2025
Which business organization fits your business goals?
1. Sole Proprietorship
Definition: Owned by a single individual who has full control and earns all profits—but also shoulders all liabilities.
Ideal For: Freelancers, small retailers, food stalls, online sellers.
Where to Register: Department of Trade and
2. Partnership
Definition: A business run by two or more people who share profits and responsibilities.
Types:
General Partnership (all partners have full liability)
Limited Partnership (some partners are only investors)
Where to Register: Securities and Exchange Commission (SEC)
3. Corporation
Definition: A legal entity separate from its owners (called shareholders).
Types:
Stock Corporation (for-profit)
Non-stock Corporation (non-profit, like NGOs or churches)
Where to Register: Securities and Exchange Commission (SEC)
4. Cooperative
Definition: An autonomous association of people united voluntarily to meet common needs.
Example: Credit co-ops, transport co-ops, farmers’ co-ops
Where to Register: Cooperative Development Authority (CDA)
Help us organize your business! Talk to us.
Contact us at
Mobile: 09952306903 / 09958192635
Facebook: Alaan Accounting Services
Email [email protected]
