Sounds OK to me.

Reading from the source text, I think this is inetended to be a catch-all to include all types of entities, e.g. companies and partnerships, so merely "companies" would be too restrictive.

A business entity is an entity that is formed and administered as per commercial law in order to engage in business activities, charitable work, or other activities allowable. Most often, business entities are formed to sell a product or a service. There are many types of business entities defined in the legal systems of various countries. These include corporations, cooperatives, partnerships, sole traders, limited liability company and other specifically permitted and labelled types of entities. The specific rules vary by country and by state or province. Some of these types are listed below, by country. For guidance, approximate equivalents in the company law of English-speaking countries are given in most cases.

https://en.wikipedia.org/wiki/Types_of_business_entity


When beginning a business, you must decide what form of business entity to establish. Your form of business determines which income tax return form you have to file. The most common forms of business are the sole proprietorship, partnership, corporation, and S corporation.10 Jan 2017
Business Structures - IRS.gov

https://www.irs.gov/businesses/small-businesses-self-employe...

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Note added at 14 hrs (2017-05-09 11:00:55 GMT)
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See the following link for an explanation of business structures in Switzerland:

http://www.companyformationswitzerland.com/types-of-swiss-co...