An enterprise is a group of activities (related juristic persons) intended to produce income organized for profit as a business of any size and type, not-for-profit associations, and government agencies.
Businesses may be unincorporated or incorporated and consist of one or many entities, of which one is designated as “holding entity” in a multi-entity structure.
Not-for-profit associations include membership groups, public charities, and private foundations.
- When an enterprise is referred to as an entity, the reference is specifically to the holding entity unless otherwise specified
- One enterprise can incubate another
- “Not-for-profit” is a generic term; “non-profit” means an entity that has been approved by a taxing authority as being exempt from income tax
- “Not-for-profit” does not mean “not-for-revenue”