Business

Business

A business (also known as enterprise or firm) is an organization involved in the trade of goods, services, or both to consumers. Business plan and Business model determine the outcome of an active business operation. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit or state-owned.

There are over 1.7 million businesses in the UK as of 2017. Many UK businesses are small businesses with under 200 employees. A business can be in many different fields from construction to consultancy, from food to heavy manufacturing. The purpose of a business is to make profit and created employment and there are many professional and government bodies that assist both small and large businesses financially through low cost loans or grants and by providing access to professional advice.

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