Discover the world of commerce with this beginner-friendly guide, covering various business types and insights from renowned entrepreneur Tia Tariq, guiding you on a simplified journey to business success.

1. B U S I N E S S A N D I T S T Y P E S
T I A T A R I Q

2. W H A T I S B U S I N E S S ?
A business involves the exchange of goods or services for monetary value. Whether it's selling handmade crafts
online or providing consulting services to clients, businesses exist to meet the needs and desires of consumers while
generating revenue for their owners. From local mom-and-pop shops to global conglomerates, businesses come in all
shapes and sizes, each with its own set of goals, strategies, and challenges.

3. S O L E P R O P R I E T O R S H I P
Imagine you're passionate about baking and decide to
start selling homemade cookies from your kitchen.
Congratulations! You've just become a sole proprietor! In
a sole proprietorship, a single individual owns and
operates the business, assuming full responsibility for
its profits, losses, debts, and liabilities.

4. P A R T N E R S H I P
Now, let's say your baking business takes off, and you decide to team up with your
friend who's a talented pastry chef. Together, you form a partnership, pooling your
resources, skills, and expertise to grow the business. In a partnership, two or more
individuals share ownership and management responsibilities, as well as the profits and
losses generated by the business.

5. C O R P O R A T I O N
As your baking business continues to
expand, you decide to take it to the next
level by incorporating it. Congratulations!
You're now the proud owner of a
corporation! Unlike sole proprietorships
and partnerships, a corporation is a
separate legal entity distinct from its
owners, known as shareholders.

6. L I M I T E D L I A B I L I T Y C O M P A N Y
( L L C ) :
Finally, let’s explore the newest kid on the block: the Limited Liability Company,
or LLC. Combining the best features of partnerships and corporations, an LLC
offers the flexibility of a partnership with the limited liability protection of a
corporation.
Finally, let’s explore the newest kid on the block: the Limited Liability Company, or LLC.
Combining the best features of partnerships and corporations, an LLC offers the
flexibility of a partnership with the limited liability protection of a corporation.

7. THANK YOU
Visit for more:
www.medium.com/@tiatariqca
Tia Tariq