Here 1st we go & discuss of business & its types
1. Service Business
2. Retailing Business
3. Manufacturing Business
4. Hybrid Business
Service Business: In this type of business individuals providing services like salon, massage, repair shops, Iron shop, Washing clothes, banking firms, law advice.
Retailing Business: In this type of business individuals buying stuff likes jewelry, clothes, books, food & beverages, grocery stores, convenience stores, distributors, and other resellers, etc buying in wholesale and selling at higher rates.
Manufacturing Business: This is like a merchandising business, but buying raw materials and involving machinery, labor & producing new products and buying them at higher prizes and he can supply bulk for wholesalers & also retailers.
Hybrid Business: These are a unique type of business where all the end products are bought together & arrange them and sells them. Like restaurants providing dining services.
Secondly Forms of Business :
1. Sole Proprietorship
4. Limited Company
Sole Proprietorship: In this, an owner is a single person & the risks have to be borne by a single person. The owner faces unlimited tensions. It is a bit costly & risky type.
Partnership: A partnership is a business owned by Two or more persons who distribute works & resources into the business. The partners divide the profits of the business equally.
Now, these two are enough for your type of business.
Go with your passion, If you like to do business just start a small scale business & try. still, you have age for trying out other things too in life.
For this small scale business, you just need to spare 3 to 4 hours of time until it clicks in a market. After you can continue your studies and manage your business. My suggestion is don't bury your passion for doing business.
Now coming to MIB & MBA.
You wanted to know what exactly in MIB goes on. You will always get an option of knowing about MIB through a number of articles, youtube channels & even on some online programs. If you subscribe to them then that's it but you will not get a certification.
Crack the CAT exam and you will get a good college for pursuing MBA.