What are Various or say different types of Businesses?

Here are the types of businesses from the point view of selection:

1. Most Profitable business
2. High Sales business but low margins, High Growth Business
3. Hot Selling/Trending now business
4. Evergreen Businesses example Food, Milk products
5. Futuristic business example solar, renewable energy businesses
6. Business that can run themselves on autopilot example online website just add content once and keep earning from advts.
7. No capital required Business

Business types as per legal:

1. Trading business - being wholesaler or distributor called B2B
2. Retail Business called B2C
3. B2G businesses include Road, bridge constructions companies
4. Manufacturing
5. Service provider business e.g Accounting service
6. Start ups - any new idea innovation launched and sold

Whom to ask Business advice for business ideas:

1. All Chartered Accountants CAs that you know
2. All friends, relatives, neighbors
3. All faculties at Business Education Institutes
4. Business consultants
5. Bank managers, credit/loan givers
6. Business loan CAs
7. Franchise giving companies
8. Find your mentors and ask them (ask open ended questions to them)
9. Research live in market what is hot selling now

How to select a business, or how a businesses can be selected or choosed:

1. Based on knowledge of the industry or sector you have do that business
2. Your core areas of Interest
3. Your Strengths
4. Market opportunity - hot selling product or top running businesses now
5. As per the availability of raw material at low cost do that business
6. Futuristic business
7. Unique Business
8. Hot demand/requirement but product or service not available do that business
9. Have a short term, medium term, long term plan do that business
10. Business that will become very big in future