Ownership
Ownership is having control over a business/organisation and being able to dictate its functioning and operations. These businesses or organisations can be split into two main sectors either the public or the private sector. The public sector consists of non-profitable businesses/organisations such as charities. However, the private sector consists of profitable business/organisations in various forms such as sole traders, partnerships, franchises, private limited and public limited.
Types of business in the Public sector
Charitable Organisation
Charitable organizations are a kind of business that fit within the nonprofit category meaning all profits are re-used in order to re-invest back into the business. In general, this type of entity is sometimes referred to as a charity or foundation, which can be run publicly or privately and has unlimited liability or in other words has full responsibility for the entire amount of debt and other liabilities combined by the organisation. Depending on the location of the charity, the legal definition of what creates a charitable organization may depend on its country of origin. Therefore, the tax which also applies to a charity will also depend upon the region or country in which the charitable organization is based or operates from.
Being a business/organisation there are many advantages and disadvantages. The advantages of being a charitable organisation are that there are certain tax exemptions and tax reliefs for taxpayers who make donations to charity. Also Charities can apply for grants from trusts/donors that have a policy of giving only to charities. A registered charity has more chance of gaining access to and securing funds from central government, local government, the EU and grant-making charities.

On the other hand it also has its flaws or disadvantages. One of the main disadvantages it has is