Workspace entity types
Select the most appropriate business type when provisioning a workspace
To provision a workspace, one has to select a specific business type that best matches their needs. There are four listed entity types from which to choose:
Individual: suitable for individual users.Company: suitable for companies, ranging from small to large enterprises.Non-Profit Organization: suitable for legally registered NGOs.Governmental Institution: suitable for government entities.
Business structure
Every business type other than individual has different subtypes identifying its legal structure.
This business structure describes the details of a business entity, such as its organization schema and daily operations. This information is essential as it allows Falu to classify your business accurately for compliance purposes.
Companies
Below are business structure classifications and descriptions of various company types.
| Business Structure | Description |
|---|---|
private_corporation | A privately owned business incorporated in Kenya. It is not traded on the public stock exchange. |
private_partnership | A business jointly owned by two or more people and which is created through a partnership agreement. |
public_corporation | A business incorporated under the laws of Kenya and whose ownership shares are traded on the public stock exchange. |
public_partnership | A business formed by a partnership agreement with one or more people, but has shares that are publicly traded on a stock exchange. |
sole_proprietorship | A business that isn’t a separate legal entity from its individual owner. |
Company merchant category codes
Falu also categorizes companies according to merchant category codes (MCCs), which are four-digit numbers indicating the types of goods and services being sold to customers.
Below is a rundown of MCC ranges and their associated service industries.
| MCC | Associated Industry |
|---|---|
MCCs_0001_1499 | Agricultural services |
MCCs_1500_2999 | Contracted services |
MCCs_4000_4799 | Transportation services |
MCCs_4800_4999 | Utility services |
MCCs_5000_5599 | Retail outlet services |
MCCs_5600_5699 | Clothing stores |
MCCs_5700_7299 | Miscellaneous stores |
MCCs_7300_7999 | Business services |
MCCs_8000_8999 | Professional services and membership organizations |
MCCs_9000_9999 | Government services |
Non-profits
Non-profits can be categorized according to their business structure:
| Business Structure | Description |
|---|---|
incorporated_non_profit | A fully-registered organization within Kenya that is legally recognized as a non-profit entity |
unincorporated_non_profit | A non-profit organization that has obtained tax-exempt status within Kenya but is not formally incorporated. |
Government entities
A government entity can be classified into the following categories:
| Business Structure | Description |
|---|---|
government_instrumentality | An organization that is not an actual government body but was formed by a government statute to perform a specific function. |
government_unit | A branch of the state or local government. |
If you or your team need clarification about the appropriate entity type, consult the business formation or tax documents for your entity.