Topic 18 · business
Types and Forms of Business
Before starting a venture, you choose its form — it decides your taxes, liability and reporting.
Business areas
Production (make a good), trade (resell), services (do work for a customer). A business often combines several.
Legal forms
In Kazakhstan the most common are the individual entrepreneur (IP) and the limited liability partnership (TOO). An IP is simpler and cheaper; a TOO is a separate legal entity.
How to choose
An IP suits a small venture run alone; a TOO — when there are partners, larger turnover, and limited liability matters.
🎯 Now possible
- tell the business areas apart
- tell an IP from a TOO
- choose a form for the task
Cheat sheet
Areas: production · trade · services
IP — simpler and cheaper, for a solo owner
TOO — a legal entity, for partners and turnover
Limited liability protects personal property