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As per the etymology business can be related to a state for staying busy as a society or as individual yet making profitable work and commercially viable. Commerce is a sub set of business as business is a broader concept which includes more than just selling and buying of products and services.
Types of business
There are various types of business being operated all over the world which involves sole proprietorship, partnership business, company form of business, business cooperatives and corporations. Before starting a business one must consider the needs and requirements of the business proposal along with some other factors such as target group to be served, and the kind of business such as if it would be providing services to customers like consultancy or the business will be producing goods or marketing. In case of partnership form or company form of business it is recommended and advised to make or prepare a written deed in order to avoid any conflict in the future regarding the share of profit, capital etc. (more…)