Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 

 
Lesson 5.1 
Types of Business Organization 
 
 
Contents 

Introduction 1 

Learning Objectives 2 

Let’s Connect 2 

Discover 3 
Business Organizations According to Form 4 
Sole Proprietorship 4 
Partnerships 5 
Corporations 6 
Cooperatives 8 
Business Organizations According to Assets 9 
Public-Private Partnerships 9 

Wrap-Up 11 

Try This! 12 

Challenge Yourself 13 

Bibliography 15 
 
 
 
 
   

 
  
Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 

Lesson 5.1 

Types of Business Organization 

 

  Introduction 
In  2018,  the  Philippines  had  a  gross  domestic  product  (GDP)  of  just  under  331  billion  US 
dollars.  This  amount  represented  a  6.3%  increase  from  the  previous  year,  a  number  that 
ranked  6th  out  of  37  countries  in  East  Asia  and  the  Pacific.  This  number  was  the  effect  of 
the  growth  in  the  services  and  industry  sectors,  which  combined,  accounted  for  around 
91% of the Philippines’ total GDP. 
 
The  growth  in  these  sectors  partly  comes  from  the  different  business  organizations  that 
populate  the  country’s  economy  today. However, contrary to what you might think, it is not 
just  the  big  corporations  that  buoy  this  nation’s  economy.  Small  businesses  like  the 
carinderias  and  sari-sari  stores  also  contribute  to  the  economy.  Having  been  introduced to 
a  few  examples  of  business  organizations  that  Filipinos  are  familiar  with,  how  do  these 
organizations differ from one another? How do we categorize them? 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
 
 

  Learning Objectives  DepEd Learning Competency 

This lesson serves as an enrichment lesson for the 
In this lesson, you should be able to do the  following DepEd competency: 
following:  ● Identify and explain different principles, 
tools, and techniques in creating a 
● Differentiate the types of 
business (ABM_AE12-IIa-d-9). 
business organizations based on   

their form. 
● Differentiate the types of 
business organizations based on 
assets. 
● Discuss the importance of 
government and private 
partnerships in society. 

 Let’s Connect       

  The Apprentice    10 minutes 

One  of  the  unique  characteristics  of  the  Philippine  business  environment  is  the  sheer 
variety  of  options  available  to  aspiring  entrepreneurs.  Today,  you are going to put yourself 
in the shoes of a young businessman or businesswoman. 
 
Instructions 
1. Come  up  with  the  kind  of  business  you  want  to  pursue.  This  can  be  as  simple  as  a 
sari-sari store or internet cafe, as moderate as a coffee shop or restaurant, or even as 
large  as  a  car  dealership  or  supermarket  franchise.  Make  sure  to  come  up  with  a 
name for your business, its main product offerings, location, and operating hours. 
2. Once  you  have  identified  what  kind  of  business  you  want  to  have,  list  down  five 
resources  you  need  to  run  your  business.  Make  sure  to  identify  if  you  will  need  to 
rent a commercial space and hire employees to run the operations. 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
3. Afterward,  estimate  a  rough  cost  for  each  resource  you  identified  in  the  previous 
step. 
 
Guide Questions 
1. Which economic concepts did you use to answer the second step? 
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________ 
 
2. What resources do you need to run your business? 
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________ 
 
3. What type of business would you want to have? Why? 
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________ 
 

  Discover 
One of the significant components of any economy is the business sector that contributes to 
society.  These  business  organizations  can  significantly  impact  the  production  of  goods  and 
services,  the  employment  of  individuals,  and  the  flow  of  resources  from  one  sector  of  the 
economy to another. 
 
However,  not  all  businesses  contribute  to  the  economy  in  the  same  way.  The  impact  they 
make  varies by characteristic and size. In understanding the impact they have on society, we 
first need to differentiate the types of business organizations. 
 
 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 

 
How  do  different  types  of  business  organizations 
contribute to the economy?  

 
Business Organizations According to Form 
One  of  the  most  common  ways  businesses  are  categorized  is  based  on  their  form.  As 
companies  change  in  scope,  they  begin  to  separate  themselves  based  on  several 
characteristics.  Identifying  different  aspects  of  different  types  of  business  organizations  is 
the first step to categorizing them. 
 
Sole Proprietorship 
The first type of business is a sole proprietorship. The smallest of its kind, these businesses 
are  operated  by  a  single  person.  Because  of  this,  there  is  rarely  any  legal  distinction 
between  the  business  and  the  owner.  As  such,  these  owners  have  unlimited  liability  and 
are  responsible  for  any  debts,  lawsuits,  or  taxes  that might affect their business. Along with 
total  responsibility,  the  sole  owner  gains  from  any  profits  or  assets  from  the  business.  As 
sole proprietors, they always make any management or business decisions. 
 
Because  the  business  and  the  owners  are  the  same,  sole  proprietorships  have  a  high  level 
of  privacy.  They  do  not  need  to  share  their  financial  records  with  anyone  but  with  tax 
authorities.  Another  important  characteristic  of  sole  proprietorships  is  that they are usually 
easy  and  inexpensive  to  register,  but  very  difficult  to  fund  due  to  limited  financial  capital. 
This limited funding is typical because it is only the sole proprietor raising the money. 
 
The  process  for  setting  up  a  sole  proprietorship  includes  the  registration  of  the  business 
with  different  government  units.  You  first  have  to  register  your  business  name  with  the 
Department  of  Trade  and  Industry  (DTI).  After  receiving  clearance  to  use  your  chosen 
business  name,  you  need  to  register  with  the  local  government  units,  specifically  with  the 
barangay  office  and  mayor’s  office  where  your  business  will  be  located.  You  are  then 
expected  to  accomplish  your  registration with the Bureau of Internal Revenue (BIR). Some 
additional  steps  may  be  required  depending  on  the  presence  of  employees  and  other 
conditional factors. 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
 
Partnerships 
Another  type  of  business  organization  is  a  partnership.  It  shares  a  lot  of similarities with a 
sole  proprietorship,  but instead of having everything run and funded by a single person, it is 
usually  formed  by  two  or  more  people.  Another  difference  between  partnerships  and  sole 
proprietorships is that a partnership is a legal entity on its own.  
 
The  level  of  liability  that  partners  might  have  with  the  business is dependent on the type of 
partnership.  Those  engaged  in  a  general  partnership  have  unlimited  liability.  Having 
unlimited  liability  means  that  owners  are  responsible  for  any  debt,  lawsuits,  or  taxes  that 
might  affect  their  business.  It  also  means  that  one  partner  will  also be liable for the actions 
done  by  another  partner.  Take  for  example  a  partnership  business  between  John  and 
James.  If  James  decides  to  take  out  a  loan  under  the  name  of  their  business,  John  can  be 
held liable to pay for it as well.  
 
However,  in  a  limited  partnership,  partners  are  only  responsible  to  a  certain  extent, 
usually  based  on  the amount contributed. This means that individuals are not fully liable for 
the  actions  of  their  partners,  and  can  only  be  expected  to  shoulder  up  to  how  much  they 
have  contributed  to  the  business.  These  two  represent  the  most  basic  partnerships;  there 
are other types that entrepreneurs can venture into. 
 
The  business'  profits  also  go  to  the different business owners, who typically divide it among 
themselves  based  on  each  partner's  percentage  of  ownership.  However,  there  are  also 
instances  where  profits  are  divided  based  on  the  type  of  partner in a partnership. Business 
decisions are also typically made together by all the partners. 
 
Financial  records  and  other  private  information  are  expected  to  be  transparent  among  the 
owners.  While  registering  a  partnership  is  not  particularly  difficult,  a  legal  agreement 
between  the  different  owners  is  required.  This  typically  covers  the  responsibilities  of  each 
partner,  how  profits  will  be  divided,  and  other  considerations.  The  presence  of  multiple 
owners  also  opens  the  business  to  relatively  more  funding  compared  to  a  sole 
proprietorship.  More  people  will  be  willing  to  provide  the  financial  resources needed to get 
the business up and running. 
 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
 
There  are  different  types  of  partners,  with  some  of  the  basic  types  being  categorized  by 
their  contributions,  level  of  liability,  and  day-to-day  involvement.  In  terms  of  their 
contributions,  a  partner  may  be  an  industrial  partner  or  someone  who  contributes  their 
personal  service  to  the  partnership,  or  a  capitalist  partner  who  contributes  money  or 
property  to  the  partnership.  They  may  also  be  considered  a  general  or  limited  partner, 
depending  on  the  level  of  liability  they  have  with  the  partnership.  Partners  can  also  be 
categorized  based  on  their  level  of  involvement  in  the  day-to-day  operations,  with 
managing  partners  who  directly  handle  the  business  and  silent  partners  who  do  not 
actively participate in the operations but are still considered a partner.  
 
The  process  of  forming  a  partnership  shares  several  similarities  with  that  of  a  sole 
proprietorship.  The  process  includes  registration  with  the  barangay  and  mayor’s  office 
where  the  business  is  to  be  located,  and  with  BIR.  You  will  also  likely  need  to  register  your 
employees  with  the  Social  Security  System  and  Pag-IBIG  Fund.  However,  instead  of 
registering  with  DTI,  partnerships  are  expected  to  register  at  the  Securities  and  Exchange 
Commission (SEC). 
 
Corporations 
The  largest  business  organization  is  the  corporation.  It  is  the  most  recognizable  type  of 
business, with major players in the Philippine economy belonging to this category. 
 
One  of  the  main  features  of  a  corporation  is  the  presence  of  a  large  number  of  owners. 
These  can  consist  of  the  founders  or  executives  of  the  company  and  usually  shareholders 
who own a percentage of the business through the purchase of the company’s stocks.  
 
Stockholders  have  limited  liability  to  the  corporation. The business is a legal entity in itself 
that  can  be  sued  or  taxed  independently  of  its  owners.  If  the  corporation goes bankrupt or 
runs  into  debt,  shareholders  are  under  no  obligation  to  shoulder the costs apart from their 
investments.  Because  of  the  sheer  number  of  owners  in  a  corporation,  these  individuals 
typically  do  not  run  the  business  on  a  daily  basis.  Instead,  executives  and  managers  are 
hired to handle that aspect of the company. 
 
 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
Another  characteristic  of  this  type  of  business  organization  is  the  need  to  be  transparent 
with  financial  records.  This  information  is  typically  made  publicly  available  to  help  aid  the 
decision-making  process  of  potential investors. Catering to these investors is also important 
as  they  become  the  source  of  financial  resources  that  the  corporation  will  rely  upon  for 
their  operations.  Because  a  corporation  can  have  a  large  number  of  owners  at  any  given 
time,  they  can  benefit  from  a  greater  volume  of  funding,  which  is  needed  for  significant 
expansions or developments. 
 
Finally,  corporations  are  also  considered  to  be  more  stable  than  other  types  of  business 
organizations.  Since  a  corporation  is  an  entity  in  itself,  the  business  does  not  die  with  the 
shareholder’s  death  as  their  shares  are  typically  inherited  by  their  next  of  kin  unless 
otherwise  stated  in  their  will.  In  the  Philippines,  corporations are allowed a lifetime of up to 
50 years, with the possibility of an extension of another 50 years. 
 
Establishing  a  corporation  in  the  Philippines  is  very  similar  to  the  process  of  setting  up  a 
partnership.  You  are  expected  to  register  with  SEC,  the  barangay  and  mayor’s  office  where 
your  corporation  will  be located, as well as BIR, and other relevant agencies such as SSS and 
Pag-IBIG.  However, additional documents required include the articles of incorporation. This 
set  of  documents  include  details  such  as  the  type  of  corporation  the  business  will  be,  the 
names  and  details  of  the  founders  or  incorporators,  the  organizational  structure  and 
directors who will manage the business, and other pertinent details regarding the business. 
 

Check Your Progress 

What  are  some  of  the  advantages  and  disadvantages  of  owning  a 
 
corporation?  
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________  

 
Sole  proprietorships,  partnerships,  and  corporations  all  represent  business  organizations 
that  seek  to  maximize  profits.  However,  there  are  also  examples  of  business  organizations 

 
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whose goals do not revolve around financial gain. These are for-profit social enterprises that 
still aim to make a profit, but prioritize their social mission. 
 
Cooperatives 
A  cooperative  is  an  example  of  for-profit  social  enterprises  that  prioritize  social  mission 
more  than  profits.  Cooperatives  are  associations  of  individuals  who  work  together  to 
pursue  their  social,  cultural,  and  economic  needs.  These  cooperatives can take many forms 
and  are usually made to cater to or address a specific need or market. Rather than profiting, 
they  prioritize  providing  benefits  to  their  members  or  owners,  such  as  goods  or  services at 
the lowest price possible. 
 
One  advantage  of  cooperatives  is  that  all  members  benefit  from  it.  Cooperatives  do  not 
have  member  limits,  so  they  can  open  themselves  up  to  gain  from  a  larger  number  of 
people.  
 
They  also  can  provide  an  avenue  for  individuals  to  collectively  pool  their  influence, 
resources,  and  efforts  to  make  a  more  significant  impact.  However,  its  major  drawback  is 
that  it  does  not  yield  a  substantial  amount  of  financial  gain,  which makes it a less attractive 
option for individuals who seek more returns from their investments. 
 
The  process  of  setting  up  a  cooperative  involves  registering  it  with  the  Cooperative 
Development  Authority  (CDA).  Like  a  corporation,  prospective  cooperatives  are expected to 
present  their  articles  of  cooperation  which  include  the  cooperative’s  name,  purpose, 
location, and other pertinent information. 
 

Check Your Progress 

What  are  some  problems  that  could  arise  from  for-profit  business 
 
organizations that do not prioritize making profits? 
______________________________________________________________________
______________________________________________________________________
______________________________________________________________________  

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
 
Business Organizations According to Assets 
Apart  from  their  form,  business  organizations  can  also  be  differentiated  by  the  total assets 
it  owns.  According  to  Republic  Act  No.  9501,  a  business  can  fall  under  the  following 
categories:  micro,  small,  medium,  and  large.  The  following  table  shows  the  requirement  to 
fall under the four categories. 
 
Table 1. Classification of businesses according to the total value of assets 

Classification  Total Value of Assets 

Micro  Below ₱3,000,000.00  

Small  Between ₱3,000,001.00 and ₱15,000,000.00 

Medium  Between ₱15,000,001.00 and ₱100,000,000.00 

Large  Above ₱100,000,000.00 

 
When  considering  total  assets,  accountants  define  them  as  anything  that  has  value  and 
produces  value.  These  items  can  range  from  financial  resources,  tangible  goods  such  as 
vehicles,  property,  equipment,  and  others,  or  even  intangible  items  such  as  trademarks, 
patents, and copyrights. 
 
Public-Private Partnerships 
Though  most  firms  prioritize  the  pursuit  of  profits,  they  may  also  contribute  to  society 
through  public-private  partnerships  (PPP).  These  are  contractual  agreements  made 
between  the  government  (public)  and  businesses  (private)  that  typically  involve  the 
execution,  planning,  financing,  or  operation  of  a  specific  venture.  These  can  range  from 
provision of services to infrastructure projects for the benefit of the public sector. 
 
The  introduction  of  public-private  partnerships  was  established  primarily  out  of  the 
inherent  inefficiencies  of  government-owned  corporations.  The  idea  of  having  the 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
government  directly  control firms was to ensure that they kept the public interest in mind in 
their  provision  of  necessary  goods  and  services.  However,  this  arrangement  led  to 
government  inefficiencies,  and  also  limited  the  projects  that  the  government  could  pursue 
with  their  limited  budget.  As  such,  partnerships  between  the  private  and  public  sectors 
emerged  as  a  middle-ground,  allowing  the  government  to  provide  much  needed  social 
services to its people while also providing a profit incentive for businesses and firms. 
 
PPPs  provide  several  benefits  for  society.  It  allows  for  the  more  efficient  completion  and 
operation  of  many  key  enterprises,  ensuring  that  the  population  can  benefit  from  these 
projects’  goods  and  services.  It  also  allows  projects  to  be  cost-effective,  giving  the 
government  an  opportunity  to  share  some  of  the operational and financial burden with the 
private  sector.  On  top  of  these,  it  encourages  the  pursuit  of  projects  that  provide  a  social 
benefit  to  the  people.  The  inherent  public  interest  associated  with  government  projects 
means that the social benefits provided by these projects impact many people. 
 
Some  examples  of  successful  PPPs  in  the  country  include  the  second  phase  of  the  North 
Luzon  Expressway  (NLEX),  the  Light  Rail  Transit  (LRT)  Cavite  extension,  and  other 
infrastructure  projects.  Some  developments  made  by  Meralco  and  the  Manila  Water 
Company are also private-public partnerships. 
 

In Philippine Context 
Micro,  small,  and  medium  enterprises  (MSME)  make  up over 99% of registered businesses 
in  the  country.  This  overwhelming  statistic  becomes  even  more  eye-opening  when  you 
realize  that  these  same  enterprises  employ  over  70%  of the country's working population. 
This  trend  is  consistent  with  the  rest  of  Asia,  with  more  than  96%  of  the  continent's 
businesses falling under this category. 
 
Despite  this,  MSMEs  only  contribute  about  35%  of  the  Philippines’  GDP.  With  so  many 
MSMEs,  you  would  have  thought  they  would  significantly  impact  the  economy  itself. 
However, a combination of  lack of resources, presence of larger and stronger competitors, 
and  need  for  more  substantial  support  from  the  government  has  held  them  back  from 

 
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achieving their full productive potential. 

Asia Small and Medium-sized Enterprise Monitor 2020  

Asian Development Bank, Asia Small and Medium-sized Enterprise Monitor 2020, 

  vol. 1 (Mandaluyong City, Metro Manila: Asian Development Bank, 2020), 

https://www.adb.org/sites/default/files/publication/646146/asia-sme-monitor-
2020-volume-1.pdf, last accessed on December 18, 2020. 

MSME’s to Thrive for Stronger Market Access-DTI  

“MSME’s to Thrive for Stronger Market Access-DTI,” CreditInfo (Credit 
Information Corporation), 
 
https://www.creditinfo.gov.ph/dti-officials-market-reach-digitalization-keys-ms
me-growth, last accessed on December 18, 2020.  

Wrap-Up 
_____________________________________________________________________________________________ 
● Business organizations can be grouped by their form: 
○ Sole proprietorship 
○ Partnerships 
○ Corporations 
○ Cooperatives 
● Firms  may  also  be  grouped  according  to  the  value  of  their  total  assets:  micro, 
small, medium, and large. 
● The  contributions  that  businesses  make  to  the  economy  can  be extremely varied. 
Larger  corporations  may  provide  more  employment  to  citizens  and  pay  higher 
taxes per business, whilst small businesses might offer more as a collective. 
_____________________________________________________________________________________________ 

 
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  Try This! 
A. True or False. Write true if the statement is correct. Otherwise, write false. 
 

____________  1. The majority of Philippine businesses are considered large. 

____________  2. Public-private partnerships are created with the goal of high profits. 

____________  3. Corporations have greater funding than sole proprietorships. 

____________  4. Partnerships always split their profits evenly among owners. 

____________  5. Cooperatives try to provide the cheapest goods and services to its 
members. 

 
B. Identification.  From  the  box,  choose  the  correct  answer  for  each  situation  and  write 
your answers on the blank space provided. 
 

Sole Proprietorship Partnership Corporation 

Public-private partnership Cooperative 

________________________  1. Paolo  plans  to  open  an  internet  cafe.  He  plans  on  funding 
the business on his own. 

________________________  2. Jeremy  recently  purchased  stocks  of  a  publicly-listed 

company from the Philippine Stock Exchange. 

________________________  3. Paolo  is  a  member  of  a  collective  of  farmers  who  each 
produce  different  types  of  crops.  They  then  sell  their 
products to one another at an affordable price. 
 

________________________  4. The  city  government  has  agreed  to  work  with  AAA 

 
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Constructions for a new road project for the city. 

________________________  5. A  new  public  hospital  was  built  through  the  combined 

efforts  of  the  national  government  and  several  private 
hospitals. 

________________________  6. Reginald  just  registered  his  new  company  where  he  plans 
on reselling clothing on an online shopping website. 

________________________  7. Mina,  a  chief  executive  at  her  company,  is  about  to  present 
the annual financial report at the shareholders meeting. 

________________________  8. Grocery  AAA  provides  affordable  food  produce  to  the 

members  of  the  community.  Members  chip  in  to  help  run 
the  grocery  store  in  order  to  qualify  for  the  affordable 
prices. 

________________________  9. Ronan’s  barkada  is  talking  about  pursuing  a  new  business 

idea.  They  are  not  sure  yet  which  industry  they  want  to 
enter,  but  they  know  that  they  want  to  do  it  together  as 
co-owners. 

________________________  10. Jem  and  Erin  decide  to  franchise  a  milk  tea  shop  together. 
Erin will provide 60% of the capital while Jem will provide the 
remaining 40%. 

 Challenge Yourself 
Answer the following questions in no more than five sentences each. 
 
1. Provide  two  issues  that  can  come  up  in  a  partnership  given  the  different  types  of 
partners available.  
________________________________________________________________________________________
________________________________________________________________________________________

 
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________________________________________________________________________________________ 
 
2. For  minimum-wage  earners  interested  in  starting  their  businesses, why should they 
pursue a sole proprietorship? Why should they pursue a partnership? 
________________________________________________________________________________________
________________________________________________________________________________________
________________________________________________________________________________________ 
 
Suggested Rubric for Grading 
The  rubric  below  is  a  suggested  one.  Your  teacher  may  modify  the  rubrics  based  on  your 
needs. Consult your teacher for the final rubric.  
 
 

Performance Levels 

1  2  3  Suggested 
Criteria  Score 
Beginning  Proficient  Advanced  Weight 
Proficiency  Proficiency 

The student did not  The student provided  The student gave the 
Correct   
provide an answer or  a partially correct  correct answer. 
Answer  × 3 
provided a wrong  answer. 
answer. 

The answer has  Economic concepts  Economic concepts 

Use of   
minimal or no use of  were used in the  were correctly used 
Economic  × 2 
economic concepts in  answer provided with  and were relevant 
Concepts  the answer provided.  some errors.  to the answer. 

The discussion was  The discussion was  The discussion was 

Logical   
made with serious  done with minor  done thoroughly 
Discussion  × 2 
errors and  errors and  and with no errors. 
inconsistencies.  inconsistencies. 

Total Possible Score  21   

 
 

 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 

  Bibliography 
“According to Philippine Laws Archives.” Board of Investments. Accessed December 3, 2020. 
https://boi.gov.ph/ufaq-category/according-to-philippine-laws/. 
 
 
Blink, Jocelyn, and Ian Dorton. “The Foundations of Economics.” In Economics Course 
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Unit 5: Industry and Environmental Analysis of Identifying Business Opportunities 
 
 
 
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