Business
A business in layment’s language is an organization (industrial, commercial, etc) that provides goods or services to other people according to their needs. A business’ purpose is to attract and keep customers. A business can be owned by a group of people on a partner-ship deed or by any single person on sole proprietorship basis. It is basically used for solve a customer’s problem and create sustainable profits over time. Every business requires some form of investment and a ample number of customers to whom its output can be sold at profit on a regular basis. A businessman has to follow a certain set of rules and regulations when he/she has to start his/her industry. These rules and regulations are predefined by Government of India that varies slightly from one state to other. Business is further divided into sub categories like Manufacturing, Distribution, Retailing, etc. These all can be done on large scale basis or on small scale basis. Large scale businesses are outcome of a large investment of money, resources, labor, etc and vice versa.
When many people think of business they think of huge industries with several employees working in it formed as a result of massive investment of money in any particular field, which is not always correct statement. Now days many small businesses, non-profit organizations and small educational intuitions are in existence. Furthermore, these small businesses don’t need any large investment to start. Any business regardless big or small is typically formed to earn profit that will increase the wealth of its owners and grow the business itself. Generally a smaller business is more flexible, while larger businesses will usually tend to be organized as partnerships or corporations. In addition a business that wishes to raise money on a stock market or to be owned by a wide range of people will often be required to adopt a specific legal form to do so.
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