Business Ownership. Business ownership means having the control over a business enterprise and being able to dictate its functioning and operations.There are three ways in which business ownership may be acquired-initiating a business, purchasing a company that is already existing and franchising.Starting a Business.he owners also get the opportunity to introduce new products and services, new plans of business expansion and a lot more. Franchising. Franchising is one of the various ways in which one may acquire business ownership.