There are mainly 5 forms of business organizations.
1. Sole proprietorship- The concern that is owned and managed by a single person is called sole proprietorship. In this firm, a single person carries on all the business activities including finance and management.
2. Partnership - Partnership is the firms that are carried on by two or more people who mutually come to an agreement either verbal or written to carry out a business by contributing appropriate capital and share profits in a prescribed ratio.
3. Hindu undivided family- Hindu undivided family business is the business concerns ( small, medium, or large scale) which are run by the members of a joint family. Usually, the head of the family is also the head of the concern run by the family.
4. Cooperative society- Cooperative society is an autonomous group of persons or group of associations who united voluntarily to meet their common economic, social, and cultural needs.
5. Joint-stock company - A joint-stock company is a business entity regarded as an artificial person where the funds for running the business is raised through issuing shares to the public and the shares of the company's stock can be bought and sold by shareholders.