Business
A business is an organization or entity engaged in commercial, industrial, or professional activities. It can be for-profit or non-profit and may range from a small sole proprietorship to a large multinational corporation. Businesses operate by providing goods or services to customers in exchange for money, aiming to generate revenue and achieve growth. Types of Businesses 1. Sole Proprietorship – Owned and operated by one person. 2. Partnership – Owned by two or more people sharing profits and responsibilities. 3. Corporation – A legal entity separate from its owners, offering limited liability. 4. Limited Liability Company (LLC) – A hybrid structure with benefits of both a corporation and a partnership. 5. Non-Profit Organization – Operates for social, educational, or charitable purposes rather than profit. Key Elements of a Business Product or Service – What the business offers to customers. Market – The target audience or customers. Revenue Model – How the business makes money...