Types of Business Industries

Types of Business Industries

Business industries are classified into five:

Product Industries. In this type of industry, you manufacture your own product such as dresses, toys, furniture, and shoes. Agricultural products such as poultry and piggery are also a specialized form of product industry.

Process Industries. Some entrepreneurs decide to perform only one or two opera­tions in an entire manufacturing process. They either concentrate only on furnishing a certain product, in performing the initial operations, or in adding a certain attach­ment to a finished product that required a certain skill which only they can fill.

Subcontracting Industries. Usually the small company subcontracts to a bigger com­pany depending on what specific product they will make.

Service Enterprises. This type of business offers a service or series of services. For example, beauty parlors, housewiring installation, food catering, printing shops, etc.

Wholesale and Retail Enterprise. This is sometimes considered as a service indus­try, selling in bulk or in small quantities (repacked).

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