Private Sector Businesses

• Who owns 'em? 🔍: Ordinary peeps like you and me!
• Real-World Example: Think of your local cafe or that cool sneaker shop downtown. The owners probably aren't part of the government, right?

Public Sector Businesses

• Who runs the show? 🏛: The government!
• Real-World Example: Post offices, public hospitals, and the library where you might (or might not) study!

Sole Trader 🚶

• Who's the boss? 👑: Just one person!
• Any bad news? ⚠️: Yup, if the business owes money, the sole trader has to pay up.
• Real-World Example: Remember Ms. Jane's bakery around the corner? She bakes, she sells, she manages everything alone. And, if she buys too much flour on credit, she’s gotta pay that back!

Partnership 👯‍♂️

• Who’s in charge? 🤜🤛: It's a team effort, 2 or more people.
• Awesome part? 🚀: Multiple brains (hopefully) mean more expertise and cash.
• But...? 🤷‍♂️: All partners share the blame for debts.
• Real-World Example: Ben & Jerry? More than just a delicious ice cream, it’s a partnership of two cool guys!

Companies and Corporations 🏢

• Who’s behind it? 🎭: Lots of owners called shareholders.
• The big difference? 🎩: Owners and the company are like different people in the eyes of the law. So, if the company is in debt, your personal savings aren't in danger.
• Real-World Example: Ever heard of Apple or Microsoft? They're mega corporations with zillions of shareholders.