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Three Business Types Essay Barber Shop This is a small service oriented business. It is established by one individual with the purpose of providing barbing services to the community. It provides the people of the community a place to go and have their hair cut without having to go extra distance to get hair cuts. Setting up a barber shop is not so financially demanding as all you will need is a location (shop), hair clipper(s), chair(s) and mirrors. I essence if you are renting a shop the bulk of the expenses in setting up the barber’s shop will be the shop itself. The owner of the barber’s shop in my community is skilled in the barbing of hair and so when he started out he was alone and did not have to employ the services of another barber. It was the skill he possessed that prompted him to choose to start a business of barbing. Today, with prudent financial management, excellent services and perfect customer relation he has grown the barber shop so much that he has 10 barbers working for him; and he doesn’t have to do barbing jobs himself except for very important customers. What led the owner to choose this business are:Â   (1) he has the skills; (2) proximity to market, and; (3) it is not so financially demanding to set up. Football Club The community football club is a business that is listed on the stock exchange and thus provides for general ownership by everybody within and outside the community. The business of this football club is entertainment which is also more of service inclined. It also does merchandising of its jerseys and other club memorabilia. What must have led the initial owners of this business to form it was to provide entertainment and also bring popularity to the community through the sporting prowess of her football team. In other words, it was not established for profit but overtime and with stronger popularity, the money started coming in. Energy Company This corporation started with exploration and exploitation of oil then realising that it could maximise profit going full circle into the energy industry built its own refinery and power generation machine that runs on the fuel it exploits and refines. Today it not only generates and sells electric energy and petroleum fuel; it also builds refineries and electric plants for other companies and governments across the world. The global demand for energy and the need to meet this demand must have prompted the owners of this business to set up the company that has become one of the world’s leading energy corporations. Because of the huge energy demand on a global scale there is a guarantee of huge returns on investment. Reference http://strategis.ic.gc.ca/sc_mangb/stepstogrowth/engdoc/step3/ssg-3-5.php#industry; sourced 00:45 GMT +1, 2/10/06