1. There are different types of business organizations including sole proprietorships, partnerships, corporations, S-corporations, C-corporations, non-profits, and LLCs. 2. Forming a business requires deciding on a structure, registering the business, obtaining licenses and permits, opening a business bank account, acquiring equipment and inventory, and obtaining insurance. 3. Ongoing business operations involve keeping financial records, managing employees, ensuring compliance with regulations, paying taxes, and engaging in marketing to continue attracting customers.