What is a business?

01:01 Mins Read

This video ventures into the concept of a business and decodes it in a simple, easy-to-understand manner.

Transcript

A business is a kind of organization that carries on any commercial or professional activities. Business can be for-profit organizations, where they offer goods or services in exchange for payment. Or, they can be non-profit entities, which carry on their business for a charitable purpose. There are different kinds of business ownership. Sole proprietorship, for instance, is a business run by a single individual. Then, there are partnerships, where two or more persons run a business together. Lastly, we have companies, which are separate legal entities. They can be private or public. This sums up the basics of a business. Keep up with this module of Smart Money to learn more about business marketing.

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