LeoGlossary: Business
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(edited)
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108 words
An entity that engages in commercial, industrial, or professional activities.
These can be many different sizes, with various forms. They are:
- sole proprietorship
- corporations (of varying sizes).
Most businesses are for profit. There are those, however, that are non-profit. These are known as charities.
For profit ventures seek to arrange economic activity in such a way that a financial payout results. Ultimately, they exist to make money.
Business provide good or services for sale. Through the revenues generated they are able to pay for the various expenses, including wages for employees.
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