Have you ever wondered or noticed the “Kirana shop” near you or a high classed building in urban areas? they both work to carry out the commercial activities. Business is a legal and an artificial entity, which is carried by a sole proprietor or partners to work on different activities. It performs various activities such as buying, selling, wholesaling, retail, manufacturing or production of goods for the motive of earning profits.
Traditional and Modern Business:
Few decades ago, traditional business had full dominance in market, but nowadays most large Asian businesses, private and state-owned entity, have developed into international corporations and running by business directors and suggested by foreign counsel. Earlier, the business was fully labour incentive that is there were only labours or daily wages worker who serve for the profit earning. However, the business has evaluated itself and introduced technologies or capital incentives techniques to take the business effectively and efficiently.
Modern Business approach usually use innovative technologies, well designed hierarchy and systematic level of management. In reputated business firms, goals and objectives are pre-determined to lift the economic activities and organisation consistency. In India, modern business had emerged.
Want to Start a New Business?
Let`s begin with the most fundamental question: Why do you want to start a Business? Take the topic to guide what sort of business you need to start. If you want to earn extra money, perhaps you should make the side hustle. If you need more freedom, it`s time to get the 9-5 work and start something new.
If you already have the killer business mind, If indeed, CONGRATULATION!! From the day you start building your business until the point where you can get a consistent profit, you need to finance your operation and increase with the start-up assets. Some founders may finance their business entirely by themselves or from friends or family, which is called “bootstrapping”.
Conclusion:
Broadly speaking, business is the activity of making one`s living or making money by producing or buying and selling goods and services. When we talk about business, we usually think of companies or corporation, which engage in these activities for the purpose of making profits.
However, business can also refer to the activity of individual engaging in trade or commerce for the sake of making a living. In this sense, business includes everything from the smallest sole proprietorship to the largest multinational corporation.
