This article shows you how to select the right Business Category for your company when you first register to create a new company account.
Business Category is defined as the type of business in your company. There are several types of business categories:
- Academic are those who carry out their work related to a school, colleges, and universities, or other educational institution, especially one for higher education, which involves activities such as studying and/or conducting research.
- Contractor provide agreed services to a client for a set fee and usually for a set duration under a contract for services. A contractor works directly with clients, architects and engineers to plan projects. Planning includes identifying the materials to be purchased, the attributes which best fit the client's needs, the estimated cost of the project and a timeline for completion.
- Contract Manufacturer (CM) refers to a firm that manufactures parts or products for a different company on a contract. CM is a form of outsourcing in which the hiring firm provides the contract manufacturer with a design and the contract manufacturer produces the products as a contractor.
- Dealers refer to those who buy goods from a producer or distributor for wholesaling and/or retail reselling. In other words, they buy a product for their business, stocks it up and then sells them off the rack.
- End users are those who actually use the product or service. End users may or not be the customers of a product. For example, the customer is the company purchasing product for their entire staff, whereas the end user is the individual who will actually be using the product or service. Manufacturers are companies that are involved in the process of the creation of parts which include research and development, through to the final assembly to produce a finished product ready for purchase.
- Engineering Procurement & Construction (EPC) is a particular form of contracting arrangement used in some industries where the EPC Contractor is made responsible for all the activities from design, engineering, procurement, construction to deliver the completed project to the employer or owner.
- A Fabricator refers to an individual or a firm that is involved in the assembly of standard or specialized parts to form parts of a product to be used in the manufacture of the finished piece as part of an overall manufacturing process.
- Original Equipment Manufacturer (OEM) refers to the original manufacturer of a part or a product. An OEM uses its own label to sell its products, although the product may be marketed by a different manufacturer. This means that an original equipment manufacturer produces components that are used in a different company’s product. Then, the finished product is marketed to users by the other company.
- Original Equipment Manufacturer Service (OES) involves customized designs of products that are marketed by another companies. A Service Contractor refers to a person or entity who enters into an agreement to undertake a specific work related operations of a contractor.
- Retailer refers to those commercial enterprises whose sales mainly come from retail. Retailers refer to middlemen who sell goods directly to final consumers.
- Wholesalers refer to commercial organizations that purchase products from manufacturing companies and then resell them to retailers and industrial users.
Importers refer to enterprises or merchants engaged in import trade. They purchase goods (including raw materials, semi-finished products, auxiliary materials, parts, etc.) from abroad and then sell them to industrial enterprises, wholesalers, and retailers in the country where they are located.
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